I think this the first I've heard of a speedometer failing, usually it's the odometer part that fails.
There's not much to a speedometer, the cable turns a shaft with a small magnet attached to it, that rotates inside of a cup assembly, and a small 'hairspring' attaches to the shaft coming off of the cup that the needle is attached to.
If something is broke in there, there are no replacement parts available, except to remove parts from a 'donor' speedometer.
Make sure the drive cable is turning at the speedometer end, outside chance the cable has problems.