Garmin Ltd. (NASDAQ:GRMN)

CAPS Rating: 1 out of 5

Garmin designs and builds GPS-enabled navigation and communication devices that help you map your route in a car, on foot, in a boat, or in a plane.

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Player Avatar georcole (67.50) Submitted: 11/29/2010 12:42:16 AM : Underperform Start Price: $24.59 GRMN Score: -68.37

I have two Garmin GPS's. One for my truck and one for hiking. The one in my truck has been telling me that I need to update the maps for about two years now. I can't see paying for the map updates after paying for the product to begin with. Have the roads really changed that much in the last few years? Besides, I have a GPS on my phone that I don't have to pay for and gets updated all the time for free. I just stick to the Garmin because I am more familiar with it. When it starts leading me in the wrong direction too much, I'll just get used to the GPS on my phone.

If I feel this way, there are probably lots of others who feel this way too. What is the current growth rate of smart phones? Once enough people have smart phones, Garmin is going to see their sales fall off of a cliff. They will still be needed in boats, but that isn't a very big market. Good luck Garmin. Gotta get a(way from) Garmin.

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Member Avatar DrRonPaul4Prez (55.39) Submitted: 12/22/2010 12:20:29 AM
Recs: 1

I think that is a very intelligent analysis. Trends are going toward products that can function as a cell phone, GPS, ipod, camera, and internet browser all in one.

Member Avatar JaBeBuBo (< 20) Submitted: 1/24/2011 11:59:11 AM
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What percentage of US population isn't in Urban areas? That number of people won't be going to "Smart Phone" GPS services...

Member Avatar georcole (67.50) Submitted: 1/25/2011 2:38:40 PM
Recs: 2

I am responding to the last comment from the way out there, backwoods of West Virginia, while sitting in my truck in a graveyard to see my Grandma and one of my Uncles. I am about an hour to an hour and a half away from the nearest big city, Morgantown. I am having no problem whatsoever on my smartphone. My Uncle, who is sitting next to me in my truck, is offended at the comment by JaBeBuBo. My Uncle is wondering if JaBeBuBo thinks he is too much of a hick to use a smartphone. So evidently rural isn't as big of a concern. As technology improves, it will only get better in the rural areas.

Member Avatar jawbn9 (< 20) Submitted: 10/21/2011 11:51:48 AM
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I guess it depends on one's needs. I live in a large metro area, but can't afford the price tag for a smart phone and its data plan. I can, however, afford a cheap cell phone with prepay service, and have a Garmin GPS I use for hiking and when visiting other cities. It is waterproof (cell phones are not), shock proof, and needs no data plan. I install updated maps for free, from OSM (Open Street Maps), online. This works for very well for me, but I would guess I'm part of that, niche, group.

Member Avatar georcole (67.50) Submitted: 11/1/2011 11:33:00 PM
Recs: 0

@jawbn9,

You sound like the kind of customer that Garmin isn't the happiest with. Part of their revenue is derived by selling map updates. You are willing to buy their product, which is good, but you fail to give them those incremental sales of the maps. I agree that stand alone GPS units are good, and actually far superior in some respects. I just think that more and more people will be switching over to smart phones and such instead of the stand alone units, especially now that the iphone is available on all three major carriers. There will always be people who would rather use the older products than the newer, sometimes too fancy or elaborate products. I actually just bought a brace and some bits for personal use. Power drill? Not anymore!! I think that it is a diminishing customer base that is going to be the demise of Garmin unless they can WOW!! us with something new. I really do like their products and wish them the best, I just don't think it's going to happen.

George

Member Avatar jawbn9 (< 20) Submitted: 11/17/2011 4:11:31 PM
Recs: 1

Here, here!

Tom

Member Avatar fluffheadsr (< 20) Submitted: 5/11/2012 1:22:48 PM
Recs: 1

Motion X GPS for for 99 cents blows my Garmin out of the water.

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