Garmin has released its Q1 2024 financial results, and they are not only solid but beat analyst estimates.
Sales revenues jumped to $1.38 billion, from $1.14 billion the prior year. And the most marked gain in devices you might buy off the shelf is in Garmin’s most mainstream category, “fitness.”
This segment saw a 40% year-on-year jump, to $342 million in revenue.
What was the most notable release in that period? The Garmin Forerunner 165, a barnstormer of a watch that reverses the recent Garmin trend among its best devices.
Most Garmin watches are well-designed and capable. An overabundance of features comes as standard, which has helped make them the go-to choice for athletes.
However, as someone who reviews these things regularly, Garmin watches can be tough to recommend to actual people at times because of the sheer costs involved. Spotlight-stealers like the Epix 2 Pro and Fenix 7 Pro can cost upwards of $1000.
The Forerunner 165, meanwhile, costs $249 and yet still has most of the fundamentals of the higher-end models people need. It’s also the first time Garmin has made a truly fitness-focused watch this affordable with an OLED screen.
My main takeaway right now is I’m glad if the Forerunner 165 has proved a big success. I am using one right now and have done so , as close to 24/7 as I get with a fitness watch, for around three months.
Sure, I have been using it for work. But despite my review period having expired a while back, I’m (mostly) perfectly happy using it despite having access to a few higher-end Garmin models.
It begs the question: where does Garmin go from here? Since the 2019 Garmin Venu OLED screens have spread virus-like throughout the Garmin line-up, and that proliferation is all but over.
The Forerunner 165 arguably represents the most notable end point of this journey. OLED has reached the most affordable serious fitness watches, and buyers may not feel the need to upgrade for a long time. I’ll be keeping an eye out for what’s new from Garmin and may post a long-term review of the Forerunner 165 shortly.
