Garmin with a Strong Share of the US market
Garmin is on a track for owning a huge part of the US GPS market according to a recent article. Despite recent entries from some pretty big names, Garmin still hangs on to 47% share of GPS devices sold in May of this year. TomTom has 26% share of the market. No news on Magellan, but look to them to improve their position with their recent RoadMate entries.
Recall that TomTom is the market leader in Europe with around a 57% share however, and Garmin has in the neighborhood of a 10% share of the well developed market there. Garmin didn’t have the key requirement of Bluetooth capabilities for hands free phone calling in their line up which hurt its position in the Euro market, where Bluetooth development is far greater than in the US. That has been remedied recently with the addition of the Garmin StreetPilot C550 and the Garmin StreetPilot 2820 .
"We continue to hear the Sony product falls short of the TomToms and Garmins," said Jeff Evanson, a Minneapolis-based analyst at Dougherty & Co. LLC, in a note to investors Thursday. "At best, Sony may have a new product for the holidays, though we better start hearing about it soon to make the holiday window."
Garmin's $800 Nuvi 350 and $500 StreetPilot c330 were the No. 1 and No. 2 best-selling portable navigation products in May, according to NPD data.
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Posted by Scott Martin at June 16, 2006 9:42 AM
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