Garmin Navigates Into Wearables With Vivofit

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March 10 (Bloomberg) –- Garmin CFO Kevin Rauckman discusses “Vivofit,” the company’s first fitness band. He speaks with Cory Johnson on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)

Full disclosure, i was involved in the stock 10 years ago.

We have had a lot of discussions about your business and i want to know where you guys are right now.

It seems when i assured the stock in 2005, there was a new thing called a smartphone and people stopped buying new gathered -- navigation devices.

We have seen an impact on the overall market.

The nice thing is we have been gaining shares during that time.

Substitution with smartphones.

We have been rebranding in many of the segments we are in.

Talk to me about that.

There is so much excitement particularly around fitness.

The fit bit in spite of the big recall and despite an earlier recall.

Talk about what you're trying to do here.

It is a natural extension from what we have done in the past.

Our first product being the forerunner.

We saw limitations on some of our competition.

A fitness than right here, they introduce in the market around the world now.

They add some features others do not have.

For one, it tracks your activity.

It is very similar to what competition does.

They have a one-year matter.

They never worry about taking it off.

Always on display so you always get feedback on how much activity you're doing, how many steps you have taken, sleep patterns and a lot of information like that.

Connecting with garmin connect, so you can track activity.

And if you do not move, you have a move bar that encourages you to get up and be active.

If you sit here too long, he will tell me to get up and start moving around.

I wonder, i asked about the features not just because i am a fitness geek, but because i wonder what the market is.

I really doubt -- it is a really big market and so many want to know how many steps they take or constantly monitor and improve their physical fitness.

Absolutely.

There is a lot of room for growth.

If you look at the alternatives, there is more need for just one.

We have other devices that can do more than that and different wearables.

Golf products are wearables, the phoenix two.

A lot of watch going on.

My timex is not doing much.

This is a brand-new product.

The second generation.

It really helps the adventurers keep track of where they are off the beaten path.

The barometer, digital compass.

If you are a runner or cyclist, you keep track of all the activity.

It is a hybrid product.

I am noting you guys seemed to have worked well with the other software companies from this place, my fitness app or others.

You seem to open up, which would not seem natural for a company like yours.

Software is part of the differentiation.

We have developed our own internally.

Where possible, we can also use third parties.

Thank you very ceo of garmin.

This text has been automatically generated. It may not be 100% accurate.

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