Garmin 2014 Annual Report Download - page 2

Innovation
from experience
For the last 25 years, Garmin
has been a worldwide leader
in satellite navigation, setting
the bar for personal navigation
devices (PND) by creating superior
products that are essential to
our customers’ lives. However,
we recognize that innovation and
diversification are the keys to
winning and retaining customers
and maintaining long-term
sustained growth. To that end, in
2014 we continued to oer and
improve on the strong portfolio
of products in all our markets—
aviation, automotive/mobile,
tness, outdoor and marine—
while also venturing into new
territory with additional products
and categories.
We leveraged our experience
developing dedicated watches
for tness, outdoor and aviation
enthusiasts to launch an exciting
new line of activity trackers, which
appeal to all levels of tness. We
added connectivity across all our
markets by integrating social and
smart technology in select products
to provide a profound, data-rich
experience to our customers,
allowing them to gain a deeper
understanding of themselves and
their goals. In addition, we widened
the displays and angles for some
of our products to provide users
more detailed information at a
glance, decreasing distraction and
enhancing safety.
Customer testimonials and
professional recommendations
from last year demonstrate the
relationship our customers have
with our products and their
correlation to success in their
chosen fields. For instance,
fishing legend and broadcast
personality Bill Dance partnered
with Garmin, and is thrilled to use
and recommend Garmin marine
electronics. Recognized as one
of the world’s top professional
triathletes, Timothy O’Donnell
helped launch the Forerunner®
920XT, our highly anticipated
multisport device that’s qualied
to guide the training of elite and
amateur athletes alike.
Based on the accomplishments
and milestones we achieved in
2014, we’re looking forward to the
future. We continue to invest in
research and development (R&D)
and continue to pursue business
opportunities in our core market
segments, as well as to explore
emerging categories. By celebrating
25 years in the industry last year,
we have established our legacy as
an innovative products company,
and we expect not just to endure
but also to succeed for many years
to come.