Garmin To Buy Distributor, Might Launch Mobile Phone
Garmin has singed a letter of intent to acquire Fairport Navigation, a distributor of navigation devices in Denmark, it has been reported. Fairport will retain its management, sales, marketing and support staff of about 30 people, Reuters reported.
Investors Business Daily also reported that Garmin might come out with a GPS-enabled mobile phone early next year. Garmin most likely would focus on the niche market of consumers who are looking for a phone with specific GPS functionality, as opposed to a mass market strategy. Garmin launched the NuNav GPS equipped phone in 1999. It sold mainly in Europe and Garmin stopped production a few years later, the paper reported.
A Garmin spokeswoman said the company has no plans to make a new phone, IBD reported.