According to Garmin on their earnings call today Oct 31st 2012 – they will refresh their Marine GPS lineup in 2013.
This is a rewritten “fun” quote from the call. “Our Marine electronics tends to have longer life-cycle than other markets and normally last 2-3 years – and we are now putting a lot of R&D into Marine”
Ohh well Garmin – Your youngest marine device is now 3 years old… So you just told your market that the current line-up has expired according to sell by date. 🙂
There was not much else about marine on the call. It feels like Garmin is stumbling to complete their future offerings in the marine segment and would rather not talk about it.
The only consistent news on the call was that earnings Q3 2012 is 7% less than Q3 2011. But according to Garmin that was due to the market conditions. Unfortunately Navico is not public listed so we cant check against Simrad/Lowrance. But according to FLIR earnings webcast on the 25th – Raymarine sales was down 11% in Q3 2012 vs Q3 2011 – despite having new and more modern devices.