Garmin Sports Watches
The Garmin Vivomove sport smartwatch barely classifies as smart. Rather than focusing on features, it emphasizes the appearance and function of a traditional watch, with smart features sprinkled on top. The hardware of the Vivomove won’t impress those interested in the latest and greatest Android Wear or Apple Watch devices. It doesn’t display much data beyond movement and steps taken.
Wearable tech is a hot growth industry -- sales jumped 70% last quarter according to research company IDC. Fitbit (NYSE:FIT) remains the undisputed market leader, although its dominance is shrinking as competition spikes. That shift has contributed to an epic collapse in its stock price.
Garmin (NASDAQ:GRMN) was one of the companies that outgrew Fitbit in Q1 with a healthy 28% sales improvement. So, should investors prefer the steadily growing GPS giant's stock over the much cheaper wearables specialist's shares?
It is generally recognized that it's fair to say that Garmin's fitness and activity trackers all have a very sport-centric look, which is fine when you're working out, yet doesn't always match your evening or formal attire.