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Garmin (GRMN) Boosts Smartwatch Offerings With Lily 2 Series
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Garmin (GRMN - Free Report) is constantly benefiting from its robust smartwatches. Shares of Garmin have returned 28% in the past year.
The firm’s expanding smartwatch portfolio is helping it gain momentum among fitness enthusiasts across the world.
Recently, the company expanded its Lily family of smartwatches by introducing the Lily 2 series – its next generation of petite and fashionable smartwatches comprising two models - Lily 2 and Lily 2 Classic.
Both watches come with an elegant design, metal watch cases, hidden displays and various color options. These watches offer advanced health and wellness features such as Pulse Ox, Body Battery energy monitoring, advanced sleep monitoring, stress, respiration and heart rate tracking as well as menstrual cycle and pregnancy tracking.
The Lily 2 series is designed to track step counting, calories burned, intensity minutes, outdoor runs, walks and bike rides.
All these features are expected to boost the adoption rate of Lily smartwatches in the coming days.
Apart from Lily 2 series watches, Garmin recently launched an all-in-one dive computer and smartwatch, the Descent G1 Solar - Ocean Edition, to boost its adventure watch offerings.
The company also added an ECG App to its AMOLED edition smartwatch offerings, namely the epix Pro series, fenix 7 Pro series, Venu 3 series and tactix 7 smartwatches. The FDA-approved ECG app enables users to record heart rhythms and check for atrial fibrillation from their smartwatch directly or through Garmin’s smartphone app, Garmin Connect.
The launch of the MARQ Carbon collection, featuring three luxury tool watches made from 130 layers of Fused Carbon Fiber, remains noteworthy.
The introduction of vívoactive 5, which features an AMOLED touchscreen display and offers health monitoring features, personalized coaching and up to 11 days of battery life, is another positive.
To Conclude
Per a Fortune Business Insights report, the global smartwatch market is anticipated to hit $29.31 billion in 2023 and reach $77.22 billion by 2032, witnessing a CAGR of 14.8% between 2023 and 2030.
Garmin’s strengthening smartwatch offerings are expected to help it solidify its presence in this promising market.
Moreover, its expanding fitness-oriented smartwatch offerings are expected to aid growth in its fitness segment, which in turn will benefit its overall top line.
The Zacks Consensus Estimate for 2024 revenues is pegged at $5.35 billion, indicating growth of 7.3% year over year.
Image: Bigstock
Garmin (GRMN) Boosts Smartwatch Offerings With Lily 2 Series
Garmin (GRMN - Free Report) is constantly benefiting from its robust smartwatches. Shares of Garmin have returned 28% in the past year.
The firm’s expanding smartwatch portfolio is helping it gain momentum among fitness enthusiasts across the world.
Recently, the company expanded its Lily family of smartwatches by introducing the Lily 2 series – its next generation of petite and fashionable smartwatches comprising two models - Lily 2 and Lily 2 Classic.
Both watches come with an elegant design, metal watch cases, hidden displays and various color options. These watches offer advanced health and wellness features such as Pulse Ox, Body Battery energy monitoring, advanced sleep monitoring, stress, respiration and heart rate tracking as well as menstrual cycle and pregnancy tracking.
The Lily 2 series is designed to track step counting, calories burned, intensity minutes, outdoor runs, walks and bike rides.
All these features are expected to boost the adoption rate of Lily smartwatches in the coming days.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Strengthening Smartwatch Offerings
Apart from Lily 2 series watches, Garmin recently launched an all-in-one dive computer and smartwatch, the Descent G1 Solar - Ocean Edition, to boost its adventure watch offerings.
The company also added an ECG App to its AMOLED edition smartwatch offerings, namely the epix Pro series, fenix 7 Pro series, Venu 3 series and tactix 7 smartwatches. The FDA-approved ECG app enables users to record heart rhythms and check for atrial fibrillation from their smartwatch directly or through Garmin’s smartphone app, Garmin Connect.
The launch of the MARQ Carbon collection, featuring three luxury tool watches made from 130 layers of Fused Carbon Fiber, remains noteworthy.
The introduction of vívoactive 5, which features an AMOLED touchscreen display and offers health monitoring features, personalized coaching and up to 11 days of battery life, is another positive.
To Conclude
Per a Fortune Business Insights report, the global smartwatch market is anticipated to hit $29.31 billion in 2023 and reach $77.22 billion by 2032, witnessing a CAGR of 14.8% between 2023 and 2030.
Garmin’s strengthening smartwatch offerings are expected to help it solidify its presence in this promising market.
Moreover, its expanding fitness-oriented smartwatch offerings are expected to aid growth in its fitness segment, which in turn will benefit its overall top line.
The Zacks Consensus Estimate for 2024 revenues is pegged at $5.35 billion, indicating growth of 7.3% year over year.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Camtek (CAMT - Free Report) , Everbridge (EVBG - Free Report) and ASML Holding (ASML - Free Report) . While Camtek and Everbridge each sports a Zacks Rank #1 (Strong Buy) at present, ASML Holding has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Camtek shares have returned 98% in the past year. The long-term earnings growth rate for CAMT is pegged at 12.26%.
Shares of Everbridge have lost 10.7% in the past year. The long-term earnings growth rate for EVBG is currently projected at 47.04%.
Shares of ASML Holding have gained 14.3% in the past year. The long-term earnings growth rate for ASML is currently projected at 25.13%.