This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Garmin Recalculating Phone Plan

NEW YORK ( TheStreet) -- Garmin (GRMN - Get Report) took a wrong turn into smartphones and looks to be exiting by year's end.

The GPS navigation device maker and its Taiwan-based hardware partner Asustek are ending a joint phone-making venture in January, according to a report in DigiTimes Monday.

Garmin wasn't immediately available for comment.

Garmin and Asus made the Garminfone for Deutsche Telekom's (DT) T-Mobile, hoping the marriage of portable navigation devices and phones would give Garmin a new growth market. But sales of the Garminfone have been weak.

Last month, Garmin CFO Kevin Rauckman warned that disappointing sales had caused the company to consider ending its phone effort. The company said phone sales in the second quarter totaled $27 million, which were below expectations.

Garmin's story highlights the difficulties of competing in the smartphone market where giants like Apple (AAPL - Get Report), Google (GOOG), Research In Motion (RIMM) and Nokia (NOK - Get Report) already offer navigation services on phones.

Asus, a major computer and notebook manufacturer, is expected refocus its mobile effort back on its own smartphones, according to the DigiTimes report.

--Written by Scott Moritz in New York.

>To contact this writer, click here: Scott Moritz, or email:

To follow Scott on Twitter, go to

>To send a tip, email:

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $126.69 0.22%
GOOG $568.32 -1.20%
GRMN $49.68 -2.00%
NOK $7.82 -3.00%
FB $79.99 -1.50%


DOW 17,851.74 -283.98 -1.57%
S&P 500 2,071.71 -29.33 -1.40%
NASDAQ 4,927.7250 -55.0840 -1.11%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs