Garmin Ltd. (NYSE:GRMN) Q1 2024 Earnings Call Transcript

Clifton Pemble: I would say, generally, our customer base are in groups that are probably less affected by the overall sentiment that you hear broadly about. So we certainly have products across all kinds of price ranges, but mostly our products tend to be products with high innovation and high desirability and therefore, their pricing is not necessarily at the bottom of the market. So in general, we’ve actually seen very strong response to some of our high-end products even when we release products, for example, in running like the Forerunner 165, which is an incredibly strong product, and we’re receiving a great result from that, but we also continue to see strength in the higher-end products as well. So in general, I would say mostly people are buying based on their needs, and we haven’t seen a lot of evidence of mixing down that we could point to with confidence.

Operator: This concludes our Q&A session for today. I will now turn the conference back over to Teri for closing remarks.

Teri Seck: Thank you all for your time today. As usual, Doug and I are available for callbacks. Have a wonderful day. Bye.

Operator: This concludes today’s conference call. Enjoy the rest of your day. You may now disconnect.