Garmin 2007 Annual Report Download - page 22

Download and view the complete annual report

Please find page 22 of the 2007 Garmin annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 138

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138

20
Garmin has always had the imagination to dream big and the
engineering prowess to build those dreams into our products.
In the coming year, our customers can expect to see incredible
new technology in familiar units and to be introduced to new
devices as well.
Garmin expects to see high demand for the speech recognition
capabilities featured in the nüvi®800 series, which was announced
in early 2008. Garmin’s speech recognition makes PND navigation
easier and safer than traditional touchscreen controlled units. Using
a push-to-talk wireless remote on the steering wheel to activate
voice command mode, users can perform almost every common
task without touching the unit. Users can say “find nearest Italian
restaurant,” speak their choice, then nüvi will lead them to the door.
More sophisticated mapping capabilities will make their debut in
the new Colorado™handheld units, the first products with preloaded
activity-specific cartography. These new maps are both amazing
to look at and more useful than ever before. The 3-D elevation
perspective provides high resolution detail and helps users visualize
their surroundings better than any standard topographic map.
nüvifone™— showcased at the GSMA Mobile World Congress in
Barcelona and expected to be released in the third quarter of
2008— is the first touchscreen device to integrate a mobile phone,
premium web browser and personal navigator. The convergence of
these technologies enables users to navigate to geo-coded photos
or perform a Google®local search and get turn-by-turn directions.This
all-touchscreen phone also includes Wi-Fi and Bluetooth connectivity,
a digital camera, video camera and MP3 player. nüvifone will allow
users to seamlessly connect, communicate and navigate.
The new line of marine products and the new autopilot introduced
at the Marine Equipment Trade Show in Amsterdam at the end of
2007 is expected to strengthen Garmin’s reputation as a top-quality
marine electronics manufacturer. SeaRay will be including the Garmin
GPSMAP®4210 chartplotter and sounders as standard equipment
on its 290 Sport Yacht line, and Krogen Express Yachts has begun
outfitting Garmin marine electronics on several of its new 40- and
50-foot trawlers.
Cycling enthusiasts are eager for the new Edge®605 and 705 bike
computers, the first units with color map displays and additional
dedicated biking features. The 705 is the only bike computer that
puts GPS positioning, mapping, heart rate, cadence, gradient and
optional power data on one display. In January 2008, Garmin
announced sponsorship of Slipstream Sports, an elite cycling team
that will use the 705 to enhance their training. On the running
scene, Forerunner®405 is the first GPS-enabled device that can
be worn both as a watch and as a training tool. It is expected
to appear in stores in the first half of 2008. The 405 features
automatic wireless updates to the computer, plus innovative touch
bezel operations. Additionally, Garmin’s MotionBased™website,
where users can display and analyze fitness activities, will be
enhanced and renamed Garmin Connect™.
Our aviation market expects continued growth for WAAS-enabled
panel mount equipment. More than 100 Citation Mustang bizjets
will be delivered next year, and Embraer Phenom 100 aircraft are
also expected to begin delivery in 2008.
In the coming year, Garmin expects to continue to invest in people
and resources to keep up with growth. Already in early 2008, we
have acquired our Danish distributor, adding another European
perspective to our sales and marketing.
Physical expansion includes a new warehouse at Garmin International’s
headquarters in Olathe, Kansas, scheduled to be completed in the
second quarter. The new warehouse will more than double the total
warehouse square footage in this location by adding approximately
186,000 square feet to be used for North American distribution.
Garmin is committed to being a world leader in navigation,
communication and information technology in 2008 and beyond. By
continuing to develop innovative, high-quality products and doing
our best to provide exceptional service to our customers, Garmin
intends to remain a leader in the markets we serve.
The new warehouse will be able to fit
three 747s nose to tail.
GROWTH INITIATIVES FOR 2008