PND Market Decline Hit Garmin 4Q Revenue
Garmin posted weaker-than-expected revenue and profit in their fourth quarter and full year 2012 earnings. Revenue for Garmin’s automotive and mobile division fell 25% and revenue for the full year 2012 declined 2% to $2.72 billion. In 2012 Garmin sold a total of 15.4 million units “with growth in outdoor, fitness, and automotive OEM, largely…
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