All Garmin articles – Page 2
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News briefsGarmin launches first indoor smart bike
dc c has announced the Tacx Neo Bike Plus, its first and “simple-to-use” indoor smart bike that is “ready to ride with realistic road feel, simulated gradients and enhanced virtual shifting.” The Tacx Neo Bike Plus is fully adjustable and suitable for multiple athletes in a household. Five different crank ...
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ArticleGarmin lifts FY EPS outlook, drops sales forecast by 3 percent
For the second consecutive quarter, Garmin has altered its fiscal year 2022 outlook. After lowering its annual revenue forecast by 9 percent to $5 billion in late July, the group is now forecasting FY revenues of $4.85 billion. On the upside, the Swiss company has adjusted its full-year EPS guidance ...
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Infographics & DataLeading sports equipment brands 2021
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Infographics & DataSporting Goods Scorecard Q2 2022 - The top performers by sales and profit
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ArticleGarmin’s Q2 revenues hurt by another double-digit drop for fitness
Garmin experienced a double-digit decline in revenues from its fitness segment for a second consecutive quarter. That decrease was the primary contributor to an overall 6 percent sales decline to $1.24 billion from nearly $1.33 billion for the period ended June 25. Overall, double-digit sales improvement for its outdoor and ...
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ArticleGarmin reports record first quarter revenue, growth in all segments except fitness
Garmin reported total revenue of $1.17 billion in Q1 2022. Strong double-digit growth in the outdoor, marine and automotive segments was primarily responsible for the nine percent year-over-year increase. Only the fitness segment saw double-digit declines, and aviation grew by 1 percent. The gross margin was 56.5 percent, while the ...
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AnalysisSporting Goods Industry Scorecard 2021
Exclusive: We give you an overview of top performers by sales and profit.
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News briefsJenifer Boughey is Garmin’s new head of corporate communication
Source: Garmin Jenifer Boughey Garmin has strengthened its communications team with Jenifer Boughey as the new head of corporate communications at its Munich office. Having held numerous senior positions in global, regional and local communications departments at EDS, Rolls-Royce, Fujitsu Siemens and most recently Fujitsu, Boughey is ...
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Infographics & DataThe largest Sports Equipment Brands 2020
This chart shows the revenue development of the 41 major global sports equipment brands in 2020 vs 2019. The chart and data can be downloaded. This is exclusive data and analysis for Premium Members.
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News briefs
Garmin partners with Intermap on innovative golf applications
Garmin has signed a worldwide multi-year joint development agreement with Intermap Technologies, a company specializing in geospatial content development and intelligence solutions, headquartered in Denver, Colorado. Intermap’s proprietary 3D, high-resolution NEXTMap Digital Terrain Model (DTM) will enable Garmin to deliver precise terrain information for 42,000 golf courses around the world. ...
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ArticleGarmin posts strong growth in all segments and regions in Q2
Garmin reported total revenues of $1.33 billion for the 13-week period ended June 26, which represents a 53 percent increase over the same quarter in 2020, with to double-digit growth in all segments. Net income of $317 million more than doubled from $184 million in the second quarter of 2020. ...
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Article
Fitness and Outdoor raise Garmin’s results
The current popularity of cycling and home fitness has proven to be an engine of growth for Garmin, which posted another strong quarter. The Swiss-based company, which also makes equipment for the aviation and automotive industries, reported a 25 percent sales gain to $1,072.3 million for the three months to ...
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News briefs
Fitbit and Garmin are cleared of two out of four patent infringement charges
The U.S. International Trade Commission (ITC) has confirmed that Garmin and Fitbit are not infringing on two patents registered by Philips, concluding that they are invalid, but it did not overturn two other patents over which the Dutch electronics company is still in litigation with the two suppliers of wearables. ...
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Article
Garmin’s fitness and outdoor sales surge
Robust demand for advanced wearables and cycling products helped Garmin to post record results for the fourth quarter of 2020. The Swiss-based company, which also makes equipment for the aviation and automotive industries, reported that its total sales rose by 23 percent to $1,351 million for the 13 weeks to ...
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News briefs
Fibit and Garmin win an IP round against Philips
An administrative law judge of the International Trade Commission of the U.S. issued an initial determination that clears Garmin and Fitbit of a charge that they have been infringing on patents held by Koninklijke Philips and its North American subsidiary. In December 2019, the Dutch electronics multinational had brought a ...
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News briefs
Garmin buys GEOS Worldwide
Garmin has acquired GEOS Worldwide, a company based in Montgomery, Texas that provides emergency monitoring and incident response services including search and rescue services for skiers, outdoor adventurers and boaters. The terms of the asset deal were not disclosed. Garmin plans a more extensive integration between its own capabilities and ...
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ArticleMarine, Fitness, Outdoor products drive record Q3 for Garmin
Garmin has reported record third-quarter earnings of $313.4 million, thanks to robust growth in demand for its marine, fitness and outdoor products. The Swiss-based company, which also makes equipment for the aviation and automotive industries, reported net sales of $1.11 billion for the 13 weeks to Sept. 26. This compares ...
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News briefs
Garmin introduces a smartwatch designed for e-sports
Garmin has announced the launch of the Instinct Esports Edition, a GPS smartwatch designed for e-sports gamers and enthusiasts. The smartwatch uses a dedicated e-sports activity function to track and analyze heart rate and stress during games while also monitoring the long-term trends. At the end of a gaming session, ...
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News briefs
Garmin releases new smartwatch dive computers
Garmin International has released the next generation of its Descent dive computers and will soon release its Descent T1 transmitter, which connects to computers through the SubWave sonar device. Designed as smartwatches, the Descent Mk2 and Descent Mk2i have displays that are 36 percent larger than those of their predecessors, ...
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ArticleGarmin thrives thanks to home fitness and cycling boom
Garmin’s fitness division saw revenues for the second quarter soar by 17 percent to $294.6 million, as the group benefited from the popularity of home fitness during lockdowns, with advanced wearables and Tacx indoor bike trainers doing well. With the easing of restrictions in May, cycling products proved very popular. ...
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