Smartphone sales are booming despite the poor economy as users flock to the devices in part because they can perform the tasks of several other devices. One of the tasks many smartphones can perform is GPS navigation.

The recent iPhone OS 3.0 update added the ability for apps that charge on a recurring basis. One of the first apps to do this was the AT&T Navigator app at $9.99 per month. According to ABI research, the global handset navigation market is set to hit 26 million by 2010.

Today in an unexpected announcement Garmin, makers of all types of GPS devices, threw their hat into the cell phone market ring with the Garmin nuvifone. The nuvifone’s cornerstone is still as a GPS device but it is also a full-on GSM HDSPA smartphone with a large 3.5-inch touchscreen and modes for calling, searching and viewing maps. It even sports an internet browser with Google local search built in.

Like other Garmin GPS devices the nuvifone carries pre-loaded maps of North America or Europe, a media player, millions of points of interest and voice promted turn-by-turn directions. But with this one there is much more. Ever forget where you parked your car in the parking lot? When you take the nuvifone out of its mount it will take note of where its at and help you find it later.

A “Where am I?” feature gives you quick access to the nearest address, intersection, closest hospital or just your latitude and longitude coordinates whenever you need it. Hey, you never know when you’ll need them to properly set up your telescope. A built in camera comes standard and of course it will geo-tag your photos, and Garmin Online brings real-time traffic, stock info, sports action and news right to the device. And of course don’t forget email, text and instant messaging.