Archive for the ‘Garmin CellPhones’ Category

garmin cellphones Garmin: revenue from phone segment in Q2 was below our plan

Second quarter, Garmin’s hit the wires this week, and overall, the company seems to be pretty healthy, its automotive, outdoor, aviation and shipping companies all posted growth, average sales price increased, and unit sales grew a solid 8 percent year -over-year. If you read a little deeper, but there is a segment that undelivered – smartphones, a joint venture of the company shares with ASUS – which contributed $ 27,000,000 in sales in the last three months. 27 million U.S. dollars in profit would be business as usual for a department of a company the size of Garmin, but $ 27,000,000 in revenue is a drop in the bucket – and sure enough, the profit report goes on to say that the performance was “less than [its] plan.”

They go on to say that they “could work with T-Mobile and other carriers around the world on the correct positioning and pricing of our aircraft in the competitive smartphone space,” interesting text seen our first shock when pricing the Garminfone (and the fact that more recently reduced to $ 130 for new subscribers). In Garmin’s own words, the smartphone industry is competitive to say the least – you can not waltz with an expensive first-gen product and expect the world – so it will be interesting to see how they move forward fit.

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