The MS-RA60 marine stereo with EL Series speaker kit and the MS-RA210 premium marine stereo with XS Series speaker kit has been introduced by Garmin’s GRMN brand Fusion Entertainment.
High-definition audio is provided through the marine stereos and speakers. Boaters may control the music using the Fusion-Link and Fusion-Link Lite applications, which provide extensive connection possibilities.
Furthermore, the entertainment devices have cutting-edge technologies such as Multi-Zone technology in two zones and a built-in Class-D amplifier for increased efficiency and output.
Garmin hopes to give sailors a better entertainment experience by using the newest stereos and speakers. The current change is anticipated to broaden the company’s appeal among boaters, resulting in a larger consumer base.
Marine Segment in Focus
Garmin’s recent release of marine stereos and speakers is in line with the company’s ongoing attempts to enhance its marine segment’s range. In addition, the firm continues to develop new technical solutions to give anglers, sailors, mariners, and boat enthusiasts a better experience.
Aside from new goods, it just launched the GPSMAP 79 marine portable series, which incorporates all of the equipment that seafarers need while leaving shore. The Garmin Surround View Camera System was also presented by GRMN, which gives captains a 360-degree view of their vessel’s perimeter to help them prevent collisions.
For hardwater fishing, the business has released the LiveScope Ice Fishing Bundle LI, a chartplotter and transducer bundle with PanoptixLiveScope sonar. In addition, GRMN recently purchased Vesper Maritime to expand its expertise in the field of marine technology. These initiatives are driving Garmin’s success in the maritime business, which produced $207.5 million in fiscal third quarter 2021, accounting for 17.4 percent of overall sales. In addition, sales from this area increased by 25% year over year.
Expanding Product Portfolio
Aside from extending its maritime portfolio, the firm has been working hard to develop new solutions to broaden its total range. To provide riders a better riding experience, the business has implemented wireless communication advancements between Edge cycling computers and SHIMANO Di2 electronic shifting systems.In addition, the business released the Approach R10, a portable golf launch monitor, in an effort to broaden its appeal to players.
In addition, the business added additional items to the Tread series in an effort to supply powersport aficionados with improved navigation capabilities.GRMN also included TXi- engine indicator system compatibility for twin-turboprop aircraft such the Cessna 425, the King Air 90 series, and select Piper Cheyenne I and II powered by Pratt & Whitney PT6A turboprops.
Garmin’s aggressive efforts to increase product offerings will continue to fuel its momentum among consumers and strengthen its foothold in the many end-markets it serves, we believe.
Zacks Rank & Stocks to Consider
Garmin is now ranked #3 by Zacks Investment Research (Hold).
Some better-ranked companies in the larger technology sector include Advanced Micro Devices AMD, Mimecast Limited MIME, and TaskUs TASK, all of which have a Zacks Rank #2. (Buy). The entire list of today’s Zacks #1 Rank (Strong Buy) stocks can be seen here.
Over the last year, Advanced Micro Devices has increased by 49.6 percent. AMD’s long-term profits growth rate is now estimated to be 46.2 percent. Over the last year, Mimecast has grown by 73.9 percent. MIME’s long-term profits growth rate is now estimated to be 35%. Over the last year, TaskUs have grown by 52.8 percent. TASK’s long-term profits growth rate is now estimated to be 32.8 percent.
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