Garmin (GRMN) Boosts Fitness Segment With SHIMANO Di2 Update

Garmin (GRMN) Boosts Fitness Segment With SHIMANO Di2 Update

Explore stocks on Coinbase

Garmin GRMN has been working to strengthen its fitness segment on the back of product launches and adding capabilities to existing offerings.

The company recently introduced wireless communication enhancements between Edge cycling computers and SHIMANO Di2 electronic shifting systems.

Cyclists can see front and rear gear data for gear systems of up to 12 speeds with the SHIMANO Di2 software update. They can also watch the battery life statusfor left and right shifters on Edge cycling computers.

Cyclists can also enjoy an enhanced riding experience by optimizing gear on their cycles and controlling Edge computers with options supporting SHIMANO Di2 DUAL CONTROL LEVERS. This can be done when cyclists export ride data to third-party sites and, thereby, get an analysis of the gear shift data.

With these capabilities, Garmin is expected to expand its reach to cyclists and riders, thereby, expanding its customer base.

Garmin Ltd. Price and Consensus

Garmin Ltd. Price and Consensus
Garmin Ltd. Price and Consensus

Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote

Fitness Segment in Focus

Apart from the recent effort, GRMN has been taking strong measures to provide advanced solutions to cycling enthusiasts.

Recently, it introduced the Dexcom Connect IQ apps to help people suffering from Type 1 and Type 2 diabetes. Moreover, customers can use the Dexcom G6 Continuous Glucose Monitor to check their glucose levels and trends on their Garmin smartwatch or cycling computer while working out.

GRMN also launched the Surfline widget, which is compatible with Garmin smartwatches. The Surfline widget will help surfing enthusiasts check conditions related to the tide, wave height, wind and surf quality rating of nearest surfing locations.

Additionally, the company launched a free software update to enhance the navigation capabilities of Edge 530, Edge 830, Edge 1030 and Edge 1030 Plus GPS cycling computers for providing a better experience to cyclists.

All the initiatives are expected to contribute to GRMN’s fitness segment’s revenues. The segment generated $342.3 million in sales, accounting for 28.7% of third-quarter 2021 total net sales.

Portfolio Strength

With the latest effort, Garmin has added strength to its overall portfolio of offerings.

Apart from the recent move, GRMN introduced a portable golf launch monitor, namely Approach R10, which is designed to help golfers make games better at home, indoors or at the driving range.

The company unveiled a six-camera system called Garmin Surround View Camera System in a bid to expand the marine product portfolio.

GRMN also launched an all-new 2021 dashcam series with voice controlling features, automatic video storage and Live View monitoring options for drivers to record any incident occurring in front of their vehicles.