Basic Activity Wearables Declining, Garmin CEO Says, And Like Apple, Seeing Advanced Device Growth
Garmin is looking to “advanced wearables” to offset the "rapidly maturing" basic activity tracker market, said CEO Cliff Pemble on the company’s Q1 call Wednesday. Garmin reported a 3 percent drop in its tracker segment, but Pemble said advanced GPS…
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wearables helped offset that. On the impact of Apple Watch in the smartwatch segment, which Apple CEO Tim Cook said a Tuesday earnings call grew nearly 100 percent year on year (see 1705030051), Pemble said Garmin is “also seeking steep growth” in advanced wearables. Despite shrinking margins in the maturing basic tracker category, Pemble said trackers are “still a very large market."