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Garmin Ltd. (NASDAQ: GRMN) shares are tanking today after the maker of personal navigation devices said that its new nuvifone will be delayed by several months. I would avoid this fad stock for a while.

The device, which the company had originally hoped to be available for the fourth quarter holiday season, will not be launched until the first quarter, according to a statement from the Cayman Islands-based company. Of course, the company tried to put a positive spin one the announcement.

"While we had hoped to have carrier launches in the fourth quarter, we have found that meeting some of the carrier specific requirements will take longer than anticipated," Garmin said. "We remain pleased with carrier interest in the device and are working toward making necessary design changes to meet their requirements. We anticipate launching the product during the first half of 2009."

First half of 2009? Nothing like setting a vague target that can easily be changed. And the company's problems don't stop with new products. Fewer people are buying the old ones as well. Garmin expects 2008 revenue of $3.9 billion, down from a previous estimate of $4.5 billion. Earnings per share are seen at $4.13, below its previous forecast of $4.40.

Continue reading Avoid Garmin (GRMN) as it goes down in flames

Avoid Garmin (GRMN) as it goes down in flames originally appeared on BloggingStocks on Wed, 30 Jul 2008 13:02:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>featuredgarmingpsGRMNinthenewsnuvifoneWed, 30 Jul 2008 13:02:00 EST<![CDATA[Garmin (GRMN): Bet on the 'Nuvifone']]>http://www.bloggingstocks.com/2008/07/29/garmin-grmn-bet-on-the-nuvifone/http://www.bloggingstocks.com/2008/07/29/garmin-grmn-bet-on-the-nuvifone/http://www.bloggingstocks.com/2008/07/29/garmin-grmn-bet-on-the-nuvifone/#commentsFiled under: , , , ,

"What's so special about the new Nuvifone from Garmin Ltd. (NASDAQ: GRMN)?" asks global expert Tony Sagami. In his The Asia Stock Alert he takes a look at the new high tech device.

'The tech world has been waiting for the one of the more natural technological marriages to happen. I'm talking about merging the useful functionality of hand-held GPS devices with the mobile phone.

"Along with that anticipation has been the speculation of which cell phone maker Garmin would team up. The mystery is over! Instead of teaming up with somebody, Garmin itself is entering the cell phone business.

"The company will leap into the mobile phone market during the third quarter of 2008 with its new Nuvifone - a one-of-a-kind communication tool, because it has all the bells and whistles of the iPhone plus Garmin's great navigation system.

Continue reading Garmin (GRMN): Bet on the 'Nuvifone'

Garmin (GRMN): Bet on the 'Nuvifone' originally appeared on BloggingStocks on Tue, 29 Jul 2008 12:42:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>asia stock alertAsiaStockAlertchina stocksgarmingrmniphonenavigation stocksnuvifonesteven halpernStevenHalpernthestockadvisors.comwireless stocksWirelessStocksTue, 29 Jul 2008 12:42:00 EST