Worldwide provider of navigation, communications and
) recently announced the launch of portable Head-Up Display (HUD)
for smartphone navigation apps.
The HUD facilitates easy viewing of navigation information. It
projects the information on a transparent film on the windshield
or an attached reflector lens. The information is procured
through a Bluetooth-enabled smartphone, which features the Garmin
StreetPilot1 or NAVIGON app. The information is displayed within
the line of sight of the driver in order to avoid
The comprehensible information includes details about traffic
situations and interchanges. It features turn arrows, distance
between turns current speed of the vehicle and speed limit. It
also projects the estimated time of arrival. It also informs
drivers about potential traffic delays and upcoming safety camera
Garmin's HUD will pair wirelessly with Bluetooth-enabled
iPhone, Android and Windows-based phones. Garmin StreetPilot and
NAVIGON apps start at $29.99 for a regional map with turn-by-turn
navigation. Garmin is selling the HUD for $129.99.
Garmin is well positioned in the personal navigation devices
market, although competitive pressures have affected its
business. Garmin has continued with product launches right
through the year, including the fleet 590 and a portable fleet
management GPS system. New products and the company's OEM
approach will continue to expand margins for the company.
In the first quarter of fiscal 2013, Garmin reported revenues
of $532.0 million, down 30.8% sequentially from the seasonally
strong fourth quarter. Revenues declined 4.4% year over year,
mainly due to continued declines in the PND market. Volumes
dropped 50.0% sequentially and 7.4% from the year-ago quarter.
The Auto/Mobile segment was down 42.2% sequentially and 9.6% from
the year-ago quarter.
Currently, Garmin has a Zacks Rank #4 (Sell). Other stocks
that have been performing well and are worth considering include
). Both Yahoo and Akamai carry a Zacks Rank #1 (Strong Buy) while
Facebook carries a Zacks Rank #2 (Buy).
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