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Garmin sales for the outdoor division (Fenix) are down by 8% for the quarter leading up to Christmas and other Fitness sales are flat.
When all your new products were delayed for the next year/quarter then the 8% fall is likely only a blip. Plus we are comparing it to Q4.2021 when consumers were spending big on health, fitness and outdoor tech. That said Garmin put the performance down to…
… component constraints that limited the number of orders we could fulfill for our traditional handhelds and dog products.
Judging by what I’ve seen from the interest in and sales of the Fenix and Epix, Q1 is going to show a significantly different picture!
Must Read: Garmin Fenix 7 Review
Even taking the Q4 performance in the wider context of Y.2021, all of Garmin’s divisions performed well, including Outdoors.
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