Below its expectations.
Satnav firm Garmin has announced its second-quarter financials, revealing total revenues of $729 million, up 9% year-on-year.
However, the company also split out revenues from its nascent smartphone business. During Q2, Garmin launched its Garmnfone A50 with T-Mobile, and its nuvifone A10 with Optus in Australia.
"Sales of our smartphone product category contributed $27M in revenue during the quarter," said chairman and CEO Dr Min Kao in a statement.
"While this was below our plan, we are working aggressively with T-Mobile and other carriers around the globe on the appropriate positioning and pricing of our devices in the competitive smartphone space."
The problem for Garmin is that the case for buying a dedicated navigation phone has been weakened by the fact that iPhone, Android and other smartphone users are spoilt for choice when it comes to powerful GPS apps.
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