Garmin: PND Sales Down 5-10%

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Garmin said global PND sales are tracking about 5 to 10 percent down and will likely continue to do so through Q4.

A Garmin executive said today on a conference call with analysts, “While we see softness in PNDs, we still believe there’s value and utility in the solution and it will seek is own level in unit volumes and we still believe it’s a very valid category.”

PND sales in the U.S. are still growing but overall global PND sales started to decline in early July, said Garmin.

The company expects “strong activity” over Black Friday in PNDs in general with an executive stating, “There will be very low cost deals out there.”

Regarding Garmin’s exit from the smartphone market, an executive said, “We created great products…but obviously, it’s a business with a lot of high stakes and it requires big scale to be successful.”

Source: CEoutlook

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