Worldwide provider of navigation, communications and
) has announced the launch of quatix, a GPS watch for boating
enthusiasts. The watch is priced at $450.0 and will be available
Garmin's new watch quatix offers the features required for
both navigational and sailing purposes. The watch will provide
vital information like tidal information, COG (course over
ground), SOG (speed over ground), and VMG (velocity made good),
along with alerts for speed and anchor drag. It is also equipped
with ABC sensors, i.e., altimeter, barometer and compass.
The watch not only provides important information to mariners,
but it also looks after the safety of users through its MOB
feature. This feature enables one to send alarm signals to the
captain of the vessel when he/she falls overboard.
The watch will be particularly useful in competitive sailing.
Although professional sailing is in the nascent stage, it is
gaining popularity through international events like Volvo Ocean
Race (one of the toughest races). It also features in the
Garmin is well positioned in the marine market, although
recessionary pressures have affected this business. Garmin has
continued with its product launches right through the year,
including the GDL TM 40 cellular marine weather receiver, the GHS
TM 20 and 20i wireless remote handsets for Garmin's VHF 200 and
300 series marine radios and an update to the GHP TM 12 marine
autopilot. It is expected that new products and its OEM approach
will continue to expand margins for the company.
In the third quarter of fiscal 2012, Garmin reported revenues
of $672.4 million, down 6.4% sequentially and 0.8% year over
year, helped by particular strength in the outdoor and aviation
segment. The Marine segment accounted for 7% of the revenues,
down 34.0% sequentially and 6.8% from the year-ago quarter. The
decline from the year-ago quarter was on account of weak economic
conditions across the world and particularly in Europe.
Garmin, which is expected to report fourth-quarter results
next month has a Zacks Rank #4 (Sell). However, other technology
stocks, such as
), which is to report early next month and
Linear Technology Corp
), which reported last week represent better investment
GARMIN LTD (GRMN): Free Stock Analysis Report
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