Do GPS receivers containing an electronic compass work equally well in either hemisphere?

I am planning on heading north of the equator any time soon, but I believe that conventional hand bearing compasses are usually built to allow for the fact the the earths magnetic field lines are on a slope. This means that a compass designed for northern hemisphere use does not works so well down south (and vice versa). is this an issue with GPS devices

Gps Compasses with a global needle can be used anywhere in the world, whereas a compass with a normal needle will always be balanced for a particular magnetic zone. It can therefore only be used in certain parts of the world. The horizontal and vertical components of the earth’s magnetic field vary considerably in different locations and this is the reason for the division into five different magnetic balancing zones”.

Electronic compasses are not subject to this tendency of an unweighted mechanical needle or disk to dip down toward the Earth’s pole.

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