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Garmin (GRMN) Forays Into the Fitness Market With Rally Meters

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Zacks Equity Research
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Garmin’s GRMN unit, Garmin International Inc., recently introduced new pedal-based power meters, under the new ‘Garmin Rally’ brand name.

The Garmin Rally range of power meters is compatible with different kinds of cleats for on and off-road use.

The Rally RS100 and Rally RS200 are compatible with Shimano SPD-SL road cleats, while the Rally RK100 and Rally RK200 are compatible with Look KEO road cleats. The Rally XC100 and Rally XC200 models are compatible with Shimano SPD cleats for mountain bike, gravel or cyclo-cross riders.

The sleek pedals with a power meter help the cyclist to measure speed, power, cadence and other advanced cycling dynamics. Markedly, cyclists can now see right and left leg data metrics independently.

Notably, the Rally power meters can be paired with Edge cycling computers and the Garmin Connect app to upload data and update software. In addition, the new power meters are compatible with other indoor training platforms, including the Tacx Training app, Zwift, TrainerRoad, among others.

The new products will help the company to gain momentum among both road cyclists and off-road cyclists.

Garmin Ltd. Price and Consensus

Garmin Ltd. Price and Consensus
Garmin Ltd. Price and Consensus

Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote

Bottom Line

Worldwide provider of navigation, communications and information devices, Garmin has been making efforts to increase its share in all the markets, backed by new products and upgrades to the existing ones. It is experiencing notable success in all segments because of many newly added technologies that are gradually expanding and enabling the company to enter new categories.

Garmin is now targeting consumers with its new cycling products. It is developing technologies and innovations to enhance users’ on as well as off-road experiences.

With rising demand for power meters, such product launches will help Garmin’s position expand its share in the fitness segment. In addition, the latest effort will enable Garmin to fend off competition from players like Apple AAPL and Alphabet GOOGL, among others.

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