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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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