Auto/mobile segment
The auto and mobile segment performed well with $392 million in revenue and a growth of 8 percent. While the PND market continues its decline, Garmin has gained market share both in Europe and in the U.S. In Europe the acquisition of Navigon (in the third quarter last year) has grown Garmin market share between 30 and 35 percent.
In the U.S. Garmin is posting its largest historical market share with 70 percent. This high percentage was helped by TomTom’s PND GPS bug, the Dutch competitor has indeed seen its market share down from 23 to 19 percent.
“The PND market has remained resilient in the face of much competition but we still anticipate year over year industry‐wide unit declines of 10‐15%. We will continue to focus on what has worked so well for us in this market – share gains and profitability,” explained Min Kao.
The auto and mobile segment performed well with $392 million in revenue and a growth of 8 percent. While the PND market continues its decline, Garmin has gained market share both in Europe and in the U.S. In Europe the acquisition of Navigon (in the third quarter last year) has grown Garmin market share between 30 and 35 percent.
In the U.S. Garmin is posting its largest historical market share with 70 percent. This high percentage was helped by TomTom’s PND GPS bug, the Dutch competitor has indeed seen its market share down from 23 to 19 percent.
“The PND market has remained resilient in the face of much competition but we still anticipate year over year industry‐wide unit declines of 10‐15%. We will continue to focus on what has worked so well for us in this market – share gains and profitability,” explained Min Kao.
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