Mumbai, India: Garmin, the US-based navigation device manufacturer, launched its second range of products in India and targets to garner a 20 percent share of the growing personal navigation devices market in the country over the next 12 months.
“The PND (personal navigation devices) market in the country is at around 50,000 units a year. We are targeting to increase our share to 20 percent of that,” Garmin marketing director for Asia Tony An said.
The company has already tied up with auto-makers like Tata, Volkswagen, Honda and Hyundai for achieving the goal. An, however, declined to give revenue from India, saying it constitutes a “minuscule” portion of its global revenues of over USD 2.5 billion.
Garmin is operational here from last 15 years serving the aviation, marine and outdoor segments for enterprises but it has been serving the retail market only since the last two years.
Source: Economic Times