T-Mobile Lowers Price on Garmin's (GRMN) Garminfone; May Not Be Flying Off Shelves (AAPL, S, More...)

Shares of Garmin (Nasdaq: GRMN) are trading lower today, as T-Mobile, the mobile subsidiary of Deutsche Telekom (NYSE: DT), cut the price of its Garminfone from $199 to $129, just one month after the device was released. Garmin is trading < font color="red">3.2% lower to $29.36.

Garmin said that their Google (Nasdaq: GOOG) Android-powered device is selling well, although one Morgan Keegan analyst speculates that its not flying off the shelves quite as quickly as hoped.

That should come as no surprise to some, as this device may not be one the consumers switch carriers for (ala - Apple's (Nasdaq: AAPL) iPhone 4, or Sprints (NYSE: S) HTC EVO 4G), but reviewers say that the location-centric phone does run well with the Android platform.

Competition is stiff though, as many users can opt-in to features like Verizon (NYSE: VZ) VZ Navigator, Apple's Maps + Compass, and Sprint's Sprint Navigation, generally for a premium.

Goldman Sachs also downgraded the CommTech sector today, and has a Sell rating on shares of Garmin. The firm cut its price target from $29 to $28.

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