Garmin, the manufacturer of smartwatches, has announced that they have received approval from the Food and Drug Administration (FDA) for their medical device to check heart rate waves on the ECG app, set to launch in the third quarter of this year. They have also announced a rebranding focusing more on the wellness products, aiming to break the traditional image of Garmin being just for athletes and professionals. This move is driven by the fact that only 20% of their product range is wellness-related.
In terms of revenue, Garmin reported a total revenue of $1.38 billion in the last quarter, a growth of 20% globally and 25% in Thailand. The number of users on Garmin Connect has also increased by 39%.
Garmin is confident in their ability to compete with other brands even without having their own smartphone, and they see the compatibility with both iOS and Android devices as a major advantage. Additionally, their products boast a strong battery life and accuracy in technology, including the main 3 axes.
24/7 MONITORING: The battery life of Garmin models lasts no less than 5 days, allowing continuous health data monitoring 24 hours a day.
COMFORT: The system for viewing data conveniently with Garmin Connect helps users track health or training data easily.
RELIABLE TECHNOLOGY: Using FIRSTBEAT technology to convert heart rate sensor data from Garmin devices into usable data formats like Stress Score and Body Battery.
Furthermore, Garmin has announced an extension of their product warranty from 1 year to 2 years for purchases made from January onwards.
TLDR: Garmin introduces a new medical device for heart rate monitoring, rebrands to focus on wellness products, reports revenue growth, emphasizes compatibility and technological strengths, and extends product warranty to 2 years for recent purchases.
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