Garmin expands marine product line to target anglers and boat owners with new devices

From Nasdaq: 2024-07-17 11:50:00

Garmin launched the JL Audio MediaMaster (MM) 55 and 55-HR marine and powersports source units, featuring enhanced displays and connectivity options like Bluetooth and digital radio. The company aims to target anglers and boat owners with these new devices.

In a bid to tap into the growing marine electronics market expected to hit $8.13 billion by 2030, Garmin introduced new products like the Panoptix ice fishing bundle and Force Kraken trolling motors. The company’s expanding marine portfolio is key to driving growth and outperforming the industry.

With Garmin’s shares up 36.5% year-to-date, the company’s growing portfolio, including new slimline radios and outdoor devices, is driving its financial performance. Strategic partnerships, like the one with Google for smartwatches, and positive revenue and earnings growth projections for 2024 further bolster Garmin’s prospects.



Read more at Nasdaq: Garmin (GRMN) Expands Marine Portfolio With MM55 & 55-HR Devices