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Документация по Location

В частности

FORMAT_SECONDS Constant used to specify formatting of a latitude or longitude in the form "DDD:MM:SS.SSSSS" where D indicates degrees, M indicates minutes of arc, and S indicates seconds of arc (1 minute = 1/60th of a degree, 1 second = 1/3600th of a degree).

static double convert(String coordinate)

Converts a String in one of the formats described by FORMAT_DEGREES, FORMAT_MINUTES, or FORMAT_SECONDS into a double.