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.
Garmin has entered a two-year agreement to become the official wearable sponsor of the National Scholastic Athletics Foundation (NSAF). This partnership aims to enhance the experience of over 200,000 student athletes involved in NSAF programs. Garmin will sponsor key events such as the Nike Indoor Nationals and Nike Outdoor Nationals, showcasing its advanced wearable technology. The collaboration reflects Garmin's commitment to support youth athletics and provide athletes with state-of-the-art training tools. NSAF Executive Director Jim Spier highlights Garmin's technology as a game-changer for the sport.
Garmin has unveiled the Instinct 2 Series, a line of rugged smartwatches with unlimited battery life in certain models and multiple sizes. The series features vibrant colors, a high-resolution display, and a host of health and wellness metrics, including VO2 Max and Sleep Score. With military-grade durability and water resistance up to 100 meters, it caters to outdoor enthusiasts. Starting at
Garmin has launched the Instinct 2 – dēzl Edition, a smartwatch tailored for truck drivers focused on wellness. This smartwatch features 24/7 health tracking, including heart rate and sleep monitoring, alongside tailored workouts and access to truck plaza rewards programs. With durability and a battery life of up to 28 days, it also supports Garmin Pay™ for easy transactions. Priced at $399.99, the device aims to enhance the health and convenience of truckers on the road.
Garmin announces the launch of the D2™ Air X10, a GPS smartwatch designed specifically for pilots. It features advanced aviation tools including built-in voice functionality that allows users to make calls and access their smartphone’s voice assistant. Key capabilities include direct-to navigation, automatic flight logging, and a suite of health tracking features. The watch boasts a battery life of up to 7 days and comes at a suggested retail price of
Garmin has announced a three-year title sponsorship of the Garmin Gravel Worlds event, beginning with the 2022 race in Lincoln, Nebraska, set for
Garmin has launched the inReach Mini 2, a compact satellite communication device designed for outdoor enthusiasts. It features two-way texting, SOS capabilities, and up to 30 days of battery life. The device includes navigation features like TracBack and integrates with the Garmin Explore app for enhanced functionality. The inReach Mini 2 offers location tracking and weather updates via the global Iridium satellite network. It is priced at $399.99 and requires an active satellite subscription.
Garmin has introduced a new feature, Green Contour data, to its Garmin Golf app membership, enhancing golfers' approach shots by displaying the slope direction of the green. This innovative tool allows users to view critical green information, including slope percentages and directional arrows, available for over 8,900 courses in North America. Membership costs
Garmin has launched its latest marine cartography products, Garmin Navionics+ and Garmin Navionics Vision+, designed for Garmin chartplotters. These products feature all-in-one mapping solutions integrating detailed inland and offshore data, daily chart updates, and advanced Auto Guidance+ technology for enhanced navigation. With up to 5,000 daily updates and comprehensive coverage of over 42,000 lakes globally, the new cartography aims to improve situational awareness for mariners. Pricing ranges from
Garmin has announced a new catalog of marine cartography products under its Navionics brand, featuring the Navionics+ and Platinum+ charts. These charts now integrate inland and coastal mapping, making navigation easier for mariners. The catalog boasts daily chart updates, high-resolution overlays, and premium features for enhanced navigation experiences. The Navionics+ and Platinum+ chart cards have suggested retail prices ranging from
Garmin has unveiled the fēnix 7 Series, an advanced solar-enhanced multisport GPS smartwatch. This new generation boasts a touchscreen design, a robust 5-button interface, and features like multi-band positioning and extensive training tools aimed at athletes. The series offers improved battery life, lasting up to 5 weeks in smartwatch mode thanks to solar charging. Noteworthy additions include a built-in flashlight for fēnix 7X models and new training metrics like Real-Time Stamina and Visual Race Predictor, enhancing athletic performance and recovery insights.
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