Garmin CEO Cliff Pemble was asked on the company's October 28 earnings call whether Garmin could raise prices to cover rising costs, and he said pricing is one of the tools it has, alongside other ways to protect margins. Memory has got a lot more expensive this year, and Garmin has been riding out the jump on parts it stocked up on at lower prices. That cushion is running out. Garmin expects the hit to show more in the fourth quarter and carry into 2027, Gadgets & Wearables reported. It hasn't announced any increase, named a product or given a date.
Garmin posted record third-quarter revenue of $1.99 billion, up 12%, and its outdoor business grew 20% on adventure watches, the quarter the Fenix 9 arrived. Pemble said Garmin is still working through Fenix 9 orders and that the $199.99 CIRQA band has a backlog too, calling it a "happy problem" the company wants solved before the holidays, according to Gadgets & Wearables. Its factories are close to full until a new plant in Thailand starts production in early 2027. So if either one is on a holiday list, order early, and don't count on today's prices lasting into next year.