I might be wrong here, but I don’t think I am. Both the chips utilize the same GPS datum files, which were originally charted by “Reelbottom Maps”. So the maps themselves should be identical.
The biggest difference that I think you will find is which chip you can run in what GPS units. The Navionics chips are available for several different makes of units, where as the Lakemaster chip ONLY works with Lowrance units.
Another thing you might want to consider; The Navionics North Region chip has 100’s of lake maps for Minnesota, Iowa, Wisconsin, and Michigan, and costs about $199. The Lakemaster chip has 60 lake maps on it, all in Minnesota only, but cost only about $99.
They are both good quality mapping chips, and you be glad you have which ever one you decide to get.