"We have a 15 percent share in the PND market in the country at present. We are targeting to increase our share to 30 percent by the end of December," Garmin Nation Sales and Marketing Head Ali Rizvi said. The PND market in India is estimated to be 1 lakh units in 2011-12 and is expected to grow to 1.5-2 lakh units in the current fiscal.
Garmin also launched two new devices - nuvi 40LM and 50LM - targeting the "affordable market segment".
The 40LM (with a 4.3 inch screen) and 50LM (with a 5 inch screen) are priced at Rs. 8,450 and Rs. 9,990, respectively, and come with free lifetime maps, "taking away the recurring cost and make the devices much more affordable in the long run," Rizvi added.
The company aims to sell about 20,000 units of the two devices till the year-end. The devices will come with free maps of Singapore and Malaysia. Garmin would also be expanding its footprint in India and by 2013 aims to have offices in Mumbai, Bangalore, Kolkata and Chennai. It opened a office in Delhi this month.