Starting off with a disclaimer, this author won't pretend to know the least bit about parenting first-hand. That said, some of the basic principles in this otherwise complex field for grown-ups aren't entirely foreign to him. Take, for example, the freedom vs. safety conundrum - you want to always know where your child is, yet you can't constantly be watching over them, plus they do need to be introduced to the concept of independence at some point. You might get them a smartphone, but those are expensive, prone to losing, and open up a world of possibilities a 5-year-old is clearly not...
Source: http://www.gsmarena.com/why_not_a_watch_phone_tracker_for_your_child-news-21413.php