Garmin generated $27 mln in revenue from its smartphones in Q2 - still below their plan2
CEO Dr. Min Kao said in their statement, “In the quarter, we also launched the GarminfoneA50 with T-Mobile and the nüvifone A10 with Optus in Australia. Sales of our smartphone product category contributed $27M in revenue during the quarter. While this was below our plan, we are working aggressively with T-Mobile and other carriers around the globe on the appropriate positioning and pricing of our devices in the competitive smartphone space.”
Now the key point you need to look at here is the fact that their smartphone sales only managed to generate $27 million in revenue – yes, just revenue and not profit. Additionally, Dr. Kao mentioned that its was “below our plan” and they're doing what they can to stay competitive in this always emerging market. This summer alone showcased the vast high-end Android offering available to consumers which made the Garminfone look quaint by comparison. Despite flaunting some less than impressive figures from their most recent smartphone venture, this is one key business they will need to look at with a close eye because the mobile market is encroaching on their usual turf at a faster rate – so they will really need to bring something compelling to the table next time around.
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source: Garmin via Unwired View