Record year for Garmin

The high demand for smartwatches has boosted Garmin's business in 2024, which has just presented spectacular results that represent a new record for the company considering the consolidated revenues for a full year.

Garmin closely follows the track to achieve $1.4 billion in profit

Spectacular 2024 that Garmin has managed to culminate achieving the highest revenues in its history, amounting to $6.3 billion as reported in the results just presented by the company. This figure represents an increase of a whopping 20% compared to the previous year.

According to Cliff Pemble, CEO of Garmin, this means "entering 2025 with strong momentum thanks to our solid product line and planned launches throughout the year".

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Launches that will be added to those presented throughout 2024 such as the spectacular Edge 1050 cycling computer, the Fenix 8 watch, or the Lily 2 Active, the smallest GPS smartwatch manufactured by Garmin.

Precisely, wearables have been the main drivers of the company's success, along with cycling computers, making Garmin's fitness products division the one that has experienced the highest growth, increasing its revenues by 31%.

The good results presented by Garmin have obviously translated into its stock price, causing the shares to rise by a remarkable 12% after the presentation of this data, the highest level for the company since it went public in 2000.