Having the same problem here. Also impacts apps like RunKeeper. Spoke to an apple tech a couple weeks ago and was told that they may need to replace my phone. Since that time, I've been unable to make contact with the rep even though I have a ticket number and such. I travel a lot for work and my run training is done through RunKeeper...so not having the GPS function is a major problem. In addition, I'm having a lot of problems with wifi and staying connected or even picking up networks (which I know are up and functioning). I'm burning through data at a rapid pace as I'm constantly getting kicked off wifi. I've attempted the following:
1. Researched possible fixes online
2. Turned location services off, rebooted phone, turned location services back on
3. Restored network settings (multiple times)
4. Backed up the phone and restored it to factory settings
5. Restored the phone using the data backed up
Nothing has worked and I'm beginning to get frustrated with apple support. Currently on hold trying to make contact with another Tech. There isn't an Apple store in my state...closest is 3 hours away. I agree with someone else who posted, that it is shameful to spend so much on a phone that will not longer function at full capacity due to bugs in an IOS update.
Read on some online forums that something similar happened with an iPhone 4 update which essentially fried the wifi components of the phone.