This excerpt taken from the GRMN 10-K filed Mar 9, 2005.
The market for navigation, communications and information products is highly competitive. Garmin believes the principal competitive factors impacting the market for its products are design, functionality, quality and reliability, customer service, brand, price, time-to-market and availability. Garmin believes that it generally competes favorably in these areas.
Garmin believes that its principal competitors for consumer GPS-enabled product lines are Thales Navigation, Inc. (Thales), Lowrance Electronics Inc. (Lowrance), Cobra Electronics Corporation (Cobra), Raymarine Ltd. (Raymarine), Furuno Electronic Company (Furuno), the Standard Vertex Division of Yaesu Co. Ltd. (Standard), the Northstar Technologies unit of Brunswick Corporation (Northstar), Navman NZ Ltd. (Navman), a subsidiary of Brunswick Corporation, and Simrad AS (Simrad). For Garmins fishfinder/depth sounder product lines, Garmin believes that its principal competitors are Lowrance, Furuno, Raymarine, Simrad, Navman, and the Humminbird division of Johnson Outdoors, Inc. (Humminbird). Garmin believes that its principal competitors for marine VHF transceiver product lines are Standard, Shakespeare Corporation, Humminbird, Raymarine, Uniden Corporation, Simrad and Icom, Inc. For Garmins general aviation product lines, Garmin considers its principal competitors to be Lowrance, for portable GPS units, and Honeywell, Inc., Avidyne Corporation, L-3 Avionics Systems, Meggitt PLC, Rockwell Collins, Inc., Universal Avionics Systems Corporation, Chelton Flight Systems and Free Flight Systems for panel-mount GPS and display units. For Garmins Family Radio Service and General Mobile Radio Service product line, Garmin believes that its principal competitors are Motorola, Inc. (Motorola), Cobra and Audiovox Corporation. For Garmins GPS sensor board product lines, Garmin believes its principal competitors are Furuno, Koden, Trimble Navigation, Ltd., Thales, Motorola, Philips N.V. (Philips) and SiRF Technology, Inc. For Garmins automotive product lines, Garmin considers its principal competitors to be Thales, Harman International Industries, Inc., Alpine Electronics, Inc., TomTom B.V., Cobra, Lowrance, Denso KK, Visteon, the On-Star Division of General Motors Corporation, Navman, Mitac International Corp. (Mitac), Xanavi Informatics Corporation, Robert Bosch GmbH, and Siemens. For Garmins personal digital assistant product line, Garmin considers its principal competitors to be PalmOne, Inc., Mitac, Navman, Medion AG, Hewlett-Packard Company, Acer Corporation, Dell Computer Corporation and Toshiba Corporation.