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Garmin's Arm Unveils New Smartwatches, Expands Portfolio

Zacks Equity Research

Garmin Ltd.’s GRMN unit, Garmin International Inc. recently introduced a range of tool watches, the MARQ series, in a bid to expand its wearables watch portfolio.

The new offerings include MARQ Aviator, MARQ Driver, MARQ Captain, MARQ Expedition and MARQ Athlete.

The latest addition to the company’s expanding product line is designed for various categories, namely aviation, automotive, marine, outdoor and sport markets.

This move will help it to further expand its share in the wearables market, and fend off competition from players like Fitbit FIT, Apple AAPL and Alphabet GOOGL, among others.

Brief Overview of the New Offerings

The MARQ series looks attractive owing to its impressive features. Built with titanium and constructed with sapphire crystal, this collection of tool watches is extremely durable, even in harsh environments. Its features include sunlight-readable display with GPS and premium smartwatch functions, built-in music storage, Garmin Pay, smart notifications, daily activity tracking, and wrist-based heart rate and a wrist-based pulse ox2 sensor.

All the watches have a solid battery life. They range from 12 days in smartwatch mode to 28 hours in GPS Mode and up to 48 hours in Ultra Tracmode.

Given all these features, the new devices are capable of providing valuable statistics for users, thereby increasing the adoption rate of Garmin’s new products.

Bottom Line

Worldwide provider of navigation, communications and information devices, Garmin has been making efforts to increase its share in all the markets served by the company,backedby 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 its markets and enabling the company to enter new categories.

The latest products will help expand its market share in aviation, automotive, marine, outdoor and sport markets, which focus on developing technologies and innovations to enhance users’ experiences.

The company’s new MARQ series should continue driving sales all through the year.

Garmin Ltd. Price and Consensus

 

Garmin Ltd. Price and Consensus | Garmin Ltd. Quote

Zacks Rank

Currently, Garmin carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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