Christmas stockings to be stuffed with GPS receivers

Forget socks and ties - a GPS receivers is the gift that keeps on giving this Christmas. The Swedish Retail Institute is predicting that the handy navigators are set to become this year's most popular present when Swedes reach in under the Christmas tree.

“It’s a product that has gone from being a product for professional drivers and the army to instead become a portable travel companion for everybody. It has changed the way we travel and the price has dropped dramatically in recent years,” said institute spokesman Henrik Öhman.

He did however conceded that the name GPS (Global Positioning System) was “somewhat unsexy”.

The institute is anticipating Swedes to spend around 62 billion kronor ($9.6 billion) on shopping in December – an increase of 7.5 percent compared to last year.

“It is the first time we reckon we’ll pass the 60 billion barrier,” said the institute’s Jonas Arnberg.