GPS maker Garmin looks to net 20% market share this year

MUMBAI: The US-based global positioning system (GPS) major Garmin has launched its second model in the country and is targeting 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 told PTI here.

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, a leader in GPS space globally, has been operational here for over 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.

It launched a second range of products in the country aimed at car-owners called Nuvi with country-specific features like lifelong free maps from Navteq, Indian accent voice responses etc.