Fitness Segment Boosts Garmin’s Revenue to $1.19B
October 27, 2021
Garmin reported $1.19 billion in third-quarter revenue Wednesday — with net sales for its fitness segment growing 4% to more than $342 million.
During the first three quarters of 2021, the company’s net fitness sales increased 26% from the same period last year.
Known for its GPS devices, Garmin is making strides with activity trackers and sports watches, too. The company said the increase in fitness sales was “driven by solid demand for our cycling and advanced wearable products.” The global wearable technology market is estimated to be worth $47.89 billion. FOS