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Garmin Expands GPS Navigator Portfolio With Latest Launch
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Garmin (GRMN - Free Report) is leaving no stone unturned to bolster devices portfolio to enhance its offering in the navigation space.
This is evident from its latest launch of a new series of oversized dezl of truck navigators — dezl OTR700/800/1000 GPS navigators. This new series will available in three options — 7-inch, 8-inch and 10-inch display. These navigators are equipped with core trucking features necessary for over-the-road truck drivers.
Further, the truck navigators help drivers in avoiding common public entrances when they are near destination by offering load-to-dock guidance, which enables them to see specific loading zones and storage lots.
Further, the new devices that feature easy-to-read HD touchscreens and several mounting options offer popular and custom truck routing.
Additionally, both 8 and 10 -inch displays can be changed from landscape to portrait mode per the driver’s convenience.
Notably, the latest move expands the family of Garmin’s oversized dezl truck navigators.
Latest Launch to Benefit Auto Segment
The latest movie is expected to benefit Garmin. It has been making every effort to increase its share in the auto market on the back of new products and upgrades to the existing ones.
With all the abovementioned advanced features, Garmin strives to deliver enhanced trucking and navigation experience to drivers. Hence, this is likely to aid the adoption rate of the new truck navigators.
This, in turn, will drive the performance of the company’s consumer automotive division, thereby, contribute to the auto segment’s top line in the near term.
The latest move bodes well for the company’s growing efforts toward expanding GPS navigator portfolio.
Apart from the latest launch, the company has recently launched an all-terrain GPS motorcycle navigator, zumo XT, in a bid to strengthen navigation offerings. In case of an untoward incident, the navigator is well equipped to provide automatic incident notifications to family and friends of rider.
The company’s robust portable navigation devices for automobiles, motorcycles and trucks remain noteworthy.
We believe strengthening GPS navigator portfolio positions Garmin well to expand presence in the booming GPS tracking device market, which is riding on increasing commercial vehicle fleet.
Per a report from Zion Market Research, global GPS tacking device market is expected to witness a CAGR of 11.8% over a period of 2019-2025 and achieve $4.6 billion by 2025.
Long-term earnings growth rate for Inphi, Match Group and Semtech is currently pegged at 37.66%, 13.39% and 12.5%, respectively.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This young company’s gigantic growth was hidden by low-volume trading, then cut short by the coronavirus. But its digital products stand out in a region where the internet economy has tripled since 2015 and looks to triple again by 2025.
Its stock price is already starting to resume its upward arc. The sky’s the limit! And the earlier you get in, the greater your potential gain.
Image: Bigstock
Garmin Expands GPS Navigator Portfolio With Latest Launch
Garmin (GRMN - Free Report) is leaving no stone unturned to bolster devices portfolio to enhance its offering in the navigation space.
This is evident from its latest launch of a new series of oversized dezl of truck navigators — dezl OTR700/800/1000 GPS navigators. This new series will available in three options — 7-inch, 8-inch and 10-inch display. These navigators are equipped with core trucking features necessary for over-the-road truck drivers.
Further, the truck navigators help drivers in avoiding common public entrances when they are near destination by offering load-to-dock guidance, which enables them to see specific loading zones and storage lots.
Further, the new devices that feature easy-to-read HD touchscreens and several mounting options offer popular and custom truck routing.
Additionally, both 8 and 10 -inch displays can be changed from landscape to portrait mode per the driver’s convenience.
Notably, the latest move expands the family of Garmin’s oversized dezl truck navigators.
Latest Launch to Benefit Auto Segment
The latest movie is expected to benefit Garmin. It has been making every effort to increase its share in the auto market on the back of new products and upgrades to the existing ones.
With all the abovementioned advanced features, Garmin strives to deliver enhanced trucking and navigation experience to drivers. Hence, this is likely to aid the adoption rate of the new truck navigators.
This, in turn, will drive the performance of the company’s consumer automotive division, thereby, contribute to the auto segment’s top line in the near term.
Garmin Ltd. Revenue (TTM)
Garmin Ltd. revenue-ttm | Garmin Ltd. Quote
GPS Navigator Strength
The latest move bodes well for the company’s growing efforts toward expanding GPS navigator portfolio.
Apart from the latest launch, the company has recently launched an all-terrain GPS motorcycle navigator, zumo XT, in a bid to strengthen navigation offerings. In case of an untoward incident, the navigator is well equipped to provide automatic incident notifications to family and friends of rider.
The company’s robust portable navigation devices for automobiles, motorcycles and trucks remain noteworthy.
We believe strengthening GPS navigator portfolio positions Garmin well to expand presence in the booming GPS tracking device market, which is riding on increasing commercial vehicle fleet.
Per a report from Zion Market Research, global GPS tacking device market is expected to witness a CAGR of 11.8% over a period of 2019-2025 and achieve $4.6 billion by 2025.
Zacks Rank & Key Picks
Garmin currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Inphi Corporation , Match Group, Inc. (MTCH - Free Report) and Semtech Corporation (SMTC - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rate for Inphi, Match Group and Semtech is currently pegged at 37.66%, 13.39% and 12.5%, respectively.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This young company’s gigantic growth was hidden by low-volume trading, then cut short by the coronavirus. But its digital products stand out in a region where the internet economy has tripled since 2015 and looks to triple again by 2025.
Its stock price is already starting to resume its upward arc. The sky’s the limit! And the earlier you get in, the greater your potential gain.
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