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 strengthened its collaboration with Amazon by integrating the Alexa Custom Assistant into its in-vehicle infotainment systems. This partnership positions Garmin as the first Tier 1 automotive supplier to offer this technology, enhancing user experience through customizable, AI-powered voice solutions. The integration allows automakers to develop tailored intelligent assistants and access advanced capabilities, enhancing operational efficiency and customer engagement. This strategic move expands Garmin's service offerings to key automotive brands, including BMW, Daimler, Ford, Honda, Toyota, and Geely.
Garmin International, a unit of Garmin Ltd. (NASDAQ: GRMN), has announced sponsorship for over 20 professional cycling teams and numerous elite runners and triathletes for 2021. This includes the addition of Team Jumbo-Visma's new women's team. Notable sponsored athletes include Tom Evans and Keegan Swenson. The Garmin-Tacx sponsored teams will utilize advanced products like the Forerunner running watches and Edge cycling computers, enhancing their performance. This initiative is part of Garmin's commitment to support athletes with innovative technology.
Garmin International, a unit of Garmin Ltd. (NASDAQ: GRMN), has launched new products in its Approach series, including the Approach S42 smartwatch, Approach S12 watch, and Approach G12 GPS rangefinder. Each device comes preloaded with over 42,000 golf courses and boasts features like exceptional battery life and connectivity with Garmin's club tracking sensor. The Approach S42 retails at $299.99, the S12 at $199.99, and the G12 at $149.99, emphasizing style, precision, and enhanced golfing experiences.
Garmin International, a unit of Garmin Ltd. (NASDAQ: GRMN), is making its debut in the powersports market, introducing three key products: the Tread powersport navigator, Garmin PowerSwitch, and BC 40 wireless camera. Priced at $799.99, these products cater to off-road enthusiasts, providing weather-resistant navigation and communication capabilities. The Tread navigator features Group Ride Radio, allowing tracking of up to 20 riders, while the PowerSwitch manages vehicle accessories. All products aim to enhance off-road adventures and are now available for purchase.
Garmin International has announced that its innovative Autoland system is a finalist for the prestigious 2020 Robert J. Collier Trophy, awarded by the National Aeronautic Association. This groundbreaking technology enables an aircraft to autonomously land in emergencies, marking it as the first certified system of its kind. The system can be activated by a passenger or automatically, ensuring safety during critical situations. Previous certifications for Autoland were achieved in 2020 by Piper Aircraft, DAHER, and Cirrus Aircraft, showcasing Garmin's commitment to advancing aviation safety.
Garmin International has been awarded the 2021 Editors’ Choice Award by FLYING Magazine for its innovative Garmin Autoland system. This system is the first certified technology capable of autonomously landing an aircraft during emergencies. It can be activated by the pilot or a passenger and calculates a safe flight path while avoiding obstacles. The Autoland received FAA certification for the Piper M600, Daher TBM 940, and Cirrus Vision Jet, enhancing Garmin's position in aviation safety technology.
Garmin Ltd. (NASDAQ: GRMN) reported financial results for Q4 and fiscal year 2020, showcasing substantial growth. Q4 revenue reached $1.35 billion, a 23% increase year-over-year, contributing to a record annual revenue of $4.19 billion (11% growth). Notable segment performances included a 40% revenue growth in outdoor and 48% in marine. Operating income for Q4 was $371 million, a 34% increase, while GAAP EPS stood at $1.73. Looking ahead, Garmin expects 2021 revenue of $4.6 billion and pro forma EPS of $5.15.
Garmin® International, Inc. has launched the Enduro™ ultraperformance GPS watch, tailored for endurance athletes, featuring customizable power management modes and a Power Glass™ solar charging lens. The Enduro watch offers battery life up to 65 days and includes advanced training tools such as VO2 Max tracking and ClimbPro™ functionalities. With a suggested retail price ranging from $799.99 to $899.99, it emphasizes staying connected in challenging environments and includes health tracking features like heart rate monitoring and Pulse Ox sensors.
Garmin International has secured a long-term partnership with Joby Aviation to equip their all-electric vertical takeoff and landing (eVTOL) aircraft with the Garmin G3000 integrated flight deck. This agreement positions Garmin as a key technology provider in the Urban Air Mobility sector, with the G3000 system expected to enhance Joby’s air mobility services set to launch in 2024. The flight deck is designed for seamless integration with Joby’s systems, showcasing Garmin’s commitment to innovation in aviation technology.
Garmin International, a unit of Garmin Ltd. (NASDAQ: GRMN), has won a trade lawsuit against Philips North America and Koninklijke Philips NV. An Administrative Law Judge (ALJ) determined that Philips’ patents were invalid and did not infringe on Garmin's wearable devices. Garmin expressed satisfaction with the ruling, emphasizing its commitment to contesting unfounded patent lawsuits. This initial determination can be reviewed by the International Trade Commission.
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