January 14, 2008

Garmin to Work with Panasonic - OEM Navigation

Garmin announced today that they will be working with Panasonic on projects to equip new cars with Panasonic navigations systems with "Garmin Inside" credentials. With the move to get more and more navigation systems on-board, it sounds like Panasonic is recognizing what I always say, it's easy to make a GPS system but it's hard to make a good GPS system.

No news on who will take the new OEM effort, but they also added that they will also continue to work on their own products independently.

Press Release Follows

Panasonic Automotive Systems Company of America and Garmin International have agreed to collaborate on OEM automotive projects targeting various vehicle manufacturers. The agreement provides the framework for the two powerhouses in their respective industries to jointly create customized navigation products for the global automotive industry.

Panasonic is an award winning, leading global supplier of OEM audio, video, navigation and information products and systems. Garmin is a worldwide provider of GPS-enabled products and other navigation, communications and information products.

"As electronics and onboard navigation continue to play an ever-growing role in the automobile, Panasonic and Garmin will seek to create additional value for their customers, and ultimately consumers, through the use of superior technology resulting in product developments that provide ease-of-use and added sophistication," said Vince Sarrecchia, president, Panasonic Automotive Systems Company of America. "As a category leader in several markets, including automotive, recreation and aviation, Garmin brings a rich and diverse background to our collaborative efforts."

"Garmin automotive products are recognized for their innovation and for the intuitive user interface which helps drivers arrive at their destination effortlessly while getting the most out of the journey," said Cliff Pemble, Garmin's president and chief operating officer. "Like Panasonic, we are passionate about the products we produce. This agreement to collaborate with an industry leading OEM supplier strengthens Garmin's growing position as a recognized provider to the automotive industry."

Both companies will continue to pursue independent initiatives, as well as jointly work on select OEM programs in which their combined strengths and expertise will provide increased value to automakers and provide a greater driving experience for consumers.