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Garmin Expands GPS Navigation Portfolio With zumo XT Launch
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Garmin Ltd. (GRMN - Free Report) has rolled out an all-terrain GPS motorcycle navigator, zumo XT, in a bid to strengthen its navigation offerings.
We note that the latest product is a 5.5-inch display-touchscreen device, which is glove friendly and designed with built-in convenience. It offers safety features like rider alerts in case of potential hazards, critical location sharing and Bluetooth hands-free calling.
In case of an untoward incident, the navigator is well equipped to provide automatic incident notifications to family and friends.
The company is striving to provide a complete navigation solution on the back of its new product, which is rain-resistant and versatile in any weather conditions and rough terrain.
All these are expected to aid zumo XT to gain traction across motorcycle riders. This, in turn, is likely to bolster its adoption rate.
Moreover, this product, which will be made available for sale this month, will expand the company’s product portfolio that has been driving customer momentum for several years. The trend is expected to continue in the near term.
Advanced features of zumo XT make the company well-poised to capitalize on the growing demand for GPS motorcycle navigators.
The new device can be paired with the rider’s phone with the help of Garmin Drive app. This will allow the rider to import the tried-and-true GPX files wirelessly.
Further, zumo XT on the entertainment side, supports streaming of music tracks on motorcyclists’ smartphones.
We believe this new innovative device will help Garmin to penetrate rapidly into the booming global motorcycle navigation system market.
Wrapping Up
Garmin has been making every effort to increase its share in all the markets served by the company, backed by new products and upgrades to the existing ones. It is experiencing notable success in all segments courtesy of several newly added technologies that are gradually expanding and enabling the company to enter new categories.
Notably, the latest move bodes well for the company’s continuous focus toward strengthening its auto segment, which contributed 15% to total revenues in 2019.
Moreover, its expanding new GPS navigation and wireless devices portfolio will continue to drive performance in the automotive end-market.
Consequently, it will aid the company in catering to the increasing requirement of the portable navigation devices in automobiles, motorcycles and trucks.
Zacks Rank & Other Key Picks
Garmin currently flaunts a Zacks Rank #1 (Strong Buy).
Long-term earnings growth rate for Microchip Technology, Qorvo and Applied Materials is currently pegged at 13.28%, 11.78% and 9.94%, respectively.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Image: Bigstock
Garmin Expands GPS Navigation Portfolio With zumo XT Launch
Garmin Ltd. (GRMN - Free Report) has rolled out an all-terrain GPS motorcycle navigator, zumo XT, in a bid to strengthen its navigation offerings.
We note that the latest product is a 5.5-inch display-touchscreen device, which is glove friendly and designed with built-in convenience. It offers safety features like rider alerts in case of potential hazards, critical location sharing and Bluetooth hands-free calling.
In case of an untoward incident, the navigator is well equipped to provide automatic incident notifications to family and friends.
The company is striving to provide a complete navigation solution on the back of its new product, which is rain-resistant and versatile in any weather conditions and rough terrain.
All these are expected to aid zumo XT to gain traction across motorcycle riders. This, in turn, is likely to bolster its adoption rate.
Moreover, this product, which will be made available for sale this month, will expand the company’s product portfolio that has been driving customer momentum for several years. The trend is expected to continue in the near term.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Delving Deeper
Advanced features of zumo XT make the company well-poised to capitalize on the growing demand for GPS motorcycle navigators.
The new device can be paired with the rider’s phone with the help of Garmin Drive app. This will allow the rider to import the tried-and-true GPX files wirelessly.
Further, zumo XT on the entertainment side, supports streaming of music tracks on motorcyclists’ smartphones.
We believe this new innovative device will help Garmin to penetrate rapidly into the booming global motorcycle navigation system market.
Wrapping Up
Garmin has been making every effort to increase its share in all the markets served by the company, backed by new products and upgrades to the existing ones. It is experiencing notable success in all segments courtesy of several newly added technologies that are gradually expanding and enabling the company to enter new categories.
Notably, the latest move bodes well for the company’s continuous focus toward strengthening its auto segment, which contributed 15% to total revenues in 2019.
Moreover, its expanding new GPS navigation and wireless devices portfolio will continue to drive performance in the automotive end-market.
Consequently, it will aid the company in catering to the increasing requirement of the portable navigation devices in automobiles, motorcycles and trucks.
Zacks Rank & Other Key Picks
Garmin currently flaunts a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the broader technology sector are Microchip Technology Incorporated (MCHP - Free Report) , Qorvo, Inc. (QRVO - Free Report) and Applied Materials, Inc. (AMAT - Free Report) , each sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Microchip Technology, Qorvo and Applied Materials is currently pegged at 13.28%, 11.78% and 9.94%, respectively.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
See 5 Stocks Set to Double>>