Garmin Posts Steep Decline In 1Q Earnings

Originally announced last year, the device has seen repeated delays as Garmin continues developing the device and negotiating with cellular carriers. The company said in February that it would begin selling the devices by June 30.

Cliff Pemble, the company's president, told analysts during the conference call that "we believe we're getting close to the end" but that the company was now focusing on introducing the devices in the second half of the year.

"We have not performed to our expectations, but we believe we have a unique design and still have a lot of interest in the device from carriers," Pemble said.