sthughes wrote:Crikey can you imagine combining a flaky phone OS with a company known for flaky firmware. I'll be avoiding this one like the plague! I wonder what version of Android it is?
Ent wrote:Garmin with the advent of GPS equipped phones is in trouble selling consumer goods.
GPSGuided wrote:Actually, they are doing quite nicely in that space. Their sports based products are selling in huge numbers as opposed to traditional outdoor handheld devices. Given the highly specific functionalities and requirements of sports devices, it's highly likely that smartphones will never take over that market.
sthughes wrote:Do you have access to some sales figures? Be interesting to see them is all. What "highly specific functionalities" can an iPhone/Droid/WP8 not accomplish with the right app?
GPSGuided wrote:http://www.garmin.com/en-US/company/investors
And 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.
Ent wrote:Garmin with the advent of GPS equipped phones is in trouble selling consumer goods.
sthughes wrote:GPSGuided wrote:What it has really got me wondering is why don't they just stick a 4G chip in there as well
GPSGuided wrote:It's amazing how people can draw such long negative conclusions, all based on a one page news release of a new product.
Ent wrote:Garmin is rapidly losing faith with the market.
Fiscal Year 2012 Financial Summary:
Total revenue of $2.72 billion, down 2% from $2.76 billion in 2011
Automotive/Mobile segment revenue decreased 6% to $1.49 billion
Outdoor segment revenue increased 11% to $402 million
Fitness segment revenue increased 8% to $322 million
Aviation segment revenue increased 2% to $292 million
Marine segment revenue decreased 6% to $208 million
Asia Pacific (APAC) contributed growth while the Americas and Europe, Middle East and Africa (EMEA) declined:
Americas revenue was $1.51 billion compared to $1.53 billion, down 1%
EMEA revenue was $945 million compared to $983 million, down 4%
APAC revenue was $257 million compared to $248 million, up 4%
Gross margin increased to 53% compared to 49% in 2011
Operating margin increased to 22% from 20% in 2011
Diluted earnings per share (EPS) increased 3% to $2.76 from $2.67 in fiscal year 2011; pro forma EPS increased 4% to $2.85 from $2.73 in fiscal year 2011. (Pro forma EPS excludes the impact of foreign currency transaction gains or losses.)
Effective tax rate increased to 13.1% from 10.8% in fiscal year 2011
Generated over $646 million of free cash flow in 2012 leading to a cash and marketable securities balance of $2.9 billion.
Ent wrote:Might I suggest Photohiker that you look at the first quarter result ending 30 March where sales are down a further 4% and outdoor is down as well. The trend appears to be continuing.
GPSGuided wrote:Monterra with a 4" screen is effectively a replacement for their Montana series while the 650 is a replacement for the 550.
photohiker wrote:Agree. My point was that the case design is a complete change from the prior series.
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