Garmin has reported strong financial results for the first quarter of 2024, exceeding analyst expectations. Sales revenues rose to $1.38 billion, with the fitness category experiencing a significant 40% increase in revenue to $342 million. The standout product in this period was the Garmin Forerunner 165, a more affordable option compared to the usual high-end models offered by Garmin.
While Garmin watches are known for their design and features geared towards athletes, their high price point has been a drawback for some consumers. The Forerunner 165, priced at $249, offers most of the essential features found in higher-end models while being more budget-friendly. It also features an OLED screen, a first for Garmin in this price range, making it an appealing option for fitness enthusiasts.
The success of the Forerunner 165 has been a positive development for Garmin, with the product being well-received by users. Despite being a more affordable option, the watch delivers on performance and functionality, making it a competitive choice in the fitness watch market. This success raises the question of where Garmin goes from here, as the company has already made OLED screens more accessible across its product lineup.
With OLED technology now available in more affordable fitness watches, users may not feel the need to upgrade to higher-end models for some time. As Garmin continues to innovate and introduce new products, there is anticipation for what the future holds for the brand and its wearable technology. A long-term review of the Forerunner 165 may provide further insight into its durability and performance, as well as any new developments from Garmin in the near future.
