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Garmin: Worldwide PND Units To Drop 10% in '11

5/04/2011 02:00:22 PM Eastern
Schaffhausen, Switzerland - The worldwide market for portable navigation devices (PNDs) will drop 10 percent in units in 2011, and their average selling prices (ASPs) will decline 5 to 10 percent as the market moves to two main suppliers, Garmin executives said.

During an analysts' conference call, executives also said the decline in retail sellthrough is more severe in North America than in other parts of the world. Although many retailers are reducing shelf space for PNDs, said president/COO Clifton Pemble," it's "still a strong category for them."

Although Garmin enjoyed a first-quarter 3-percent gain in PND revenues as well as PND unit growth, the growth was due to an easy comparison with the year-ago decline caused by an oversupply at retail, the company said. The overall market trend remains negative, and Garmin's first-quarter PND gains won't continue, the company added.

 
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