GPSGuided wrote:http://www.garmin.com/en-US/company/investorsAnd if you are into cycling and other outdoor fitness activities, you'll soon notice the number of Garmin units around and the large amount of discussions and interest on related forums. It's not a case that smartphone can't accomplish specific functions through specific apps (eg. Non-GPS speed sensor, power sensor interface and others) but a case of being too fragile to carry, let alone too bulky and too short on battery life. Fact is, Garmin is doing very well in this consumer and pro space. Their market share reflects this.
Guess it depends how you read it.
Summarising their annual report through my eyes:
Overall revenue and income at a smidgen above the lowest in 5 years.
Marine sector income is down an enormous 50% over 3 years
Fitness sector income is up 20% over 3 years, but running participation is up between 25% & 102% over 5 years (according to Garmin's report), so are they really even keeping market share?
Outdoor sector income is up 3.8%.
Aviation income is up less than 1%.
Automotive income is down a whopping 10%.
So, yes their fitness stuff is selling well, but they are slashing the profit margin to achieve that result.
In comparison (and I know it's a stretch to compare the two) but iPhone revenue is up 220% over the same period! More iPhones are sold in a year than all Garmin devices EVER! And Samsung sell even more smart phones than Apple!
So, are Garmin really doing all that well?
So,
Ent wrote:Garmin with the advent of GPS equipped phones is in trouble selling consumer goods.
doesn't seem too far off the mark, as a company whose revenue is stagnant (at best) is in trouble I would think. I think Garmin know this and that's why they are heading down this track.
What it has really got me wondering is why don't they just stick a 4G chip in there as well and call it the most kick *&%$#! tough outdoors GPS enabled Android phone on the market. If it had that (and assuming it doesn't crash incessantly - which I'm skeptical about) I'd be very tempted by it. Heck any full featured, rubust, waterproof smart phone that runs on AA's and will work well as a GPS has my attention for use when bushwalking.

P.S. I still think Garmin make the best GPSs on the market, if my Rino died today I would only buy another Garmin. Just not this one!
