Garmin officially exits the smartphone business, reports mixed Q3 earnings

Based on our experience with relationships, we’ve learned that it takes two to tango. It also takes two to produce co-branded wares, and with ASUS already withdrawing (respectfully, of course) from the ill-fated Garmin-Asus smartphone partnership, this here is more a formality than anything else. That said, those worried that Garmin would try to loop in another handset maker in order to manufacturer yet another Garminfone that 3.4 people would consider buying can rest easy. In the company’s Q3 2010 earnings, it confirmed that it is ” winding down ” its smartphone efforts, and rather than continuing on a path to doom and destruction, it’ll be ramping up marketing efforts in the aviation and maritime sectors. As for quarterly results, the company did see net income rise to $279.5 million (up from $215.1 million a year ago), but shares fell as it issued a depressing outlook for Q4 amid weakening demand for standalone PNDs . Hate to say we told you so … Garmin officially exits the smartphone business, reports mixed Q3 earnings originally appeared on Engadget on Wed, 03 Nov 2010 12:08:00 EDT. Please see our terms for use of feeds . Permalink

Posted by on November 3, 2010. Filed under News, Tech. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry