Next quarters will decide to either stay or step back, says GPS makers.
Getting into the smartphone business is one tough cookie to crack. With big players dominating different markets, it will require some great push to get through. Garmin, who ventured into smartphones with its GPS-mobile combo device with Asus, are in a tight position. With just $27 million in sales for Q2 of 2010, the company is now evaluating their financial stand.
In an interview with Reuters, Garmin CFO Kevin Rauckman said that the company is currently mulling over the idea of staying or pulling back.
“We’re pragmatic,” Rauckman said. “If we end up ultimately not successful with units … we’ll have to sit back and evaluate that and consider making the best decision for our business.”
“We’ll have to make decisions within the next couple of quarters — whether we continue to invest or whether we pull back.”