Company Overview of Garmin

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Executive Summary In a span of 5 short years, GPS manufacturer Garmin has gone from a specialized producer of niche equipment to a Wall Street champion in 2007. Since that time, the company has diminished into a relative has-been according to many analysts. For example, in late 2007 the Garmin stock price reached a record high of over one hundred twenty dollars a share. However, in 2008, the stock price fell below twenty dollars a share and today the stock rests in the mid-forties after a mild recovery from the fifty two week low. This analysis looks into the financial aspect of Garmin and draws parallels to the overall trends in the industry. Although the company could have managed some aspects of the business better, the fall of Garmin's financial attractiveness cannot be entirely attributed to the company itself. Company Overview Garmin is a worldwide provider of navigation, communication, and information devices as well as their related applications which are all associated somehow to Global Positioning System (GPS) technology. The company offers products around the globe through subsidiary operations however the parent organization is located in Taiwan. There are four broad categories in which individual products within the company's product mix can be labeled; the automotive, outdoor/fitness, marine, and aviation represent the categories of products the company offers. Figure 1 - GPS Market Share Data for 2007 (Fletch, 2008)Figure 1 - GPS Market Share

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