Welcome to our dedicated page for Garmin news (Ticker: GRMN), a resource for investors and traders seeking the latest updates and insights on Garmin stock.
Garmin Ltd. (NYSE: GRMN) is a globally recognized leader in the development of GPS-enabled hardware and software across five verticals: fitness, outdoors, auto, aviation, and marine. Established in 1989 in Kansas City, Garmin has grown exponentially, maintaining its entrepreneurial spirit while fostering a culture where every voice counts. This ethos drives the company’s innovative spirit, making technology accessible and meaningful to a global audience.
Garmin’s product portfolio includes a wide range of devices tailored to meet the needs of various niche activities such as scuba diving, sailing, and off-road adventures. The company’s GPS systems are known for their reliability and precision, making them favorites among athletes, outdoor enthusiasts, and professionals alike. Garmin's presence is truly global, with operations in over 100 countries and a diverse network of distributors and original equipment manufacturer (OEM) partnerships.
Recently, Garmin has made significant strides in expanding its offerings and enhancing product capabilities. For instance, the company’s Unified Cabin™ automotive suite was showcased at CES 2024, featuring advanced technologies like Dolby Atmos audio, zoned voice assistance, and improved device connectivity. Garmin's collaboration with leading automobile manufacturers such as BMW, Daimler, Ford, and Honda further underscores its commitment to innovation and quality.
In the marine segment, Garmin launched the Panoptix™ PS70, a groundbreaking live sonar device capable of providing real-time views at depths of up to 1,000 feet. This technology offers a video-like experience with rapid updates, setting a new standard for deep-sea sportfishing. The company's marine products continue to revolutionize the industry, earning accolades and solidifying Garmin's position as a market leader.
Financially, Garmin is robust, consistently achieving record revenue in multiple segments. In 2023, the company reported record full-year revenue across three of its five segments, driven by the successful launch of new products and strong market demand. Garmin’s financial health is further highlighted by its significant operating cash flow and a well-maintained dividend policy, ensuring long-term value for shareholders.
Garmin’s future projects and partnerships are indicative of its forward-looking strategy. The company continues to collaborate with industry leaders like Kawasaki and Vuzix to integrate advanced technologies into its offerings, ensuring that it remains at the forefront of innovation in the tech world.
On January 5, 2023, BlackBerry Limited announced that Garmin has selected its QNX® technology for Garmin's next-gen proof of concept at CES 2023. The Unified Cabin™ integrates multiple operating systems on a single system on chip (SoC).
Garmin chose BlackBerry QNX for its safety and reliability, essential in automotive applications. The deal further solidifies their partnership as the industry seeks safe ways to run Android Automotive OS alongside RTOS. BlackBerry QNX products are featured in over 215 million vehicles globally, enhancing automotive safety and cybersecurity.
Garmin (NYSE: GRMN) has launched the RV 895 and RV 1095 navigators, designed for RV enthusiasts with 8 and 10-inch displays. These devices offer custom routing based on vehicle size, preloaded content including national parks, and BirdsEye satellite imagery for enhanced arrival planning. Features include traffic alerts, Bluetooth connectivity, and integration with the Garmin Drive app for real-time updates. The RV 895 is priced at $699.99 and the RV 1095 at $899.99, available now at garmin.com. This release aims to enhance navigation for camping adventures.
Garmin (NYSE: GRMN) has launched the Garmin Dash Cam Live, an always-connected LTE dash cam designed for vehicle security and monitoring. With a retail price of $399.99, the device offers live video access through the Garmin Drive app, enhancing drivers' peace of mind with theft alerts and incident notifications. The camera records in high-definition 1440p and features Garmin Clarity HDR optics. A subscription plan starting at $9.99/month is required for full connectivity. This innovative product aims to provide safety and convenience for drivers, available now and showcased at CES 2023.
Garmin (NYSE: GRMN) showcased its innovative Unified Cabin in-vehicle solution at CES 2023, designed for Automotive OEMs. This system seamlessly connects multiple wireless passenger devices to real-time entertainment options like games and videos, powered by a single multi-domain computing module. The setup features customizable experiences through UWB technology and includes advanced integrations with partners like Xperi and Mapbox. Garmin aims to enhance user experience and address technical challenges for next-gen multi-screen systems running on Android Automotive OS.
Garmin (NYSE: GRMN) released its 2022 Garmin Connect Fitness Report, revealing significant shifts in fitness habits post-pandemic. The report highlights a surge in logged activities with the Garmin Connect app reaching an all-time high, as consumers resumed pre-pandemic routines. Key insights include a 143% year-over-year growth in skiing/snowboarding activities and a 40% increase in gravel cycling activities. Home-based workout activities have leveled off, while indoor sports like running and swimming have surged. The report marks the third year of annual insights into fitness trends.
Garmin has announced a partnership as the official running watch sponsor for Under Armour's Mission Run professional teams, which include elite athletes and coaches. The Forerunner 955 GPS smartwatch will be utilized to track performance metrics and monitor health stats. Key figures involved include coach Stephen Haas and notable athletes such as Sharon Lokedi. The smartwatch boasts up to 15 days of battery life, advanced performance tracking features, and will be complemented by the Garmin Clipboard Coaching app for comprehensive training analytics.
Garmin (NYSE: GRMN) has been awarded the prestigious 2022 Supplier Innovation Award by BMW Group for its contributions to the BMW 7 Series, particularly the Theatre Screen feature. This recognition was announced during an event on November 17, 2022, in Munich. Garmin's innovative technology enables a uniquely immersive back-seat movie experience with a 31-inch panoramic display. The company has also expanded its manufacturing capabilities with a new facility in Poland and enhancements at its U.S. headquarters, solidifying its role as a key partner in BMW's digital cockpit solutions.
Garmin (NYSE: GRMN) has launched the Tacx NEO Bike Plus, an advanced indoor smart bike designed for a realistic riding experience. Set for release in January 2023 at a retail price of $3,999.99, the bike offers features such as accurate performance metrics, adjustable fit, and the ability to simulate outdoor conditions like gradients and surface textures. It integrates with the Tacx Training app for immersive workouts, allowing users to access structured training and pro rides. The bike accommodates multiple users with customizable settings.
Archer Aviation (NYSE: ACHR) has partnered with Garmin (NYSE: GRMN) to supply the G3000 integrated flight deck for its Midnight aircraft. This collaboration aims to streamline Archer's certification process by sourcing components already used in certified aircraft, which could lower development costs and timelines. Currently, Archer has selected over 64% of suppliers for Midnight’s materials, emphasizing its strategy to focus on key technologies while relying on established aviation leaders. This relationship is expected to enhance Archer's credibility and operational efficiency in the urban air mobility market.
Garmin (NYSE: GRMN) has launched Bounce, a kids' smartwatch featuring LTE connectivity, enabling parents to communicate with and track their children without needing a smartphone. The device includes a color touchscreen, durable design, real-time location tracking, and two-way messaging via the Garmin Jr. app. Bounce also promotes an active lifestyle by tracking fitness metrics and allowing parents to assign chores. Priced at $149.99, it is available exclusively on Garmin.com. A subscription plan is required for LTE features.
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