Garmin products sell in approximately 100 countries and are distributed through a network of about three thousand independent dealers. According to an S&P 500 report, Garmin’s top anagement believes that its marine, automotive, recreational, and aviation product lines will continue to drive their sales and revenue in the future. Garmin has partnered with companies such as Honda, XM Satellite Radio, and MSN Direct to offer innovative and competitive products. In November 2006, Garmin acquired Dynastream Innovations, a Canadian company specializing in the field of personal monitoring technology.
In January, Garmin acquired Digital Cyclone, Inc. , which provides personalized weather intelligence for wireless devices, and EME TecSat, which is a third-party map developing company that uses Garmin’s technology. Also, greements with many rental car companies to use Garmin products, entered into an agreement with Honda Europe to begin using Garmin products, and aired its first ever Super Bowl commercial this year. Industry Analysis The demand for consumer electronics is going to be driven by advances in GPS technology.
According to research report released April 9 by the Consumer Electronics Association, consumer interest in GPS technology is increasing dramatically. Consumers are wanting the latest and greatest technology that is available. As GPS technology improves each year, providing new and improved products, consumers are going to be demanding hese products. GPS devices will continue to gain popularity as old technologies fade and new technologies enter the market. The CEA report also states that only 18 percent of online consumers own GPS devices.
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AssignBuster. (2022) 'Garmin'. 16 November.
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