The annual Computer Electronics Show (CES) is a venue that many tech firms use to unveil their new products. Garmin (NASDAQ: GRMN) did just that, taking the wraps off three new wearables including the fenix 5, fenix 5S, and fenix 5X.

The fenix 5 and 5S also include an option which Garmin refers to as "Sapphire" that includes Wi-Fi enabled functionality so users can connect to their home networks and receive automatic updates when they're within range. Garmin has priced the fenix 5 and 5S at $599.99. The suggested retail price for the fenix 5X, which comes with additional features including wrist mapping, as well as for the fenix 5 and 5S with the Sapphire feature, is $699.99.

The fenix 5 -- Garmin's first "designed with a focus on female adventurers" --  is smaller, but still retains multi-sport capabilities. All the devices come equipped with activity tracking and heart rate monitoring, and feature extended battery life.

The upgraded fenix wearables, when paired with a compatible smartphone, also offer smartwatch-like functionality to receive emails, calls, and texts, and can access Garmin's ConnectIQ for a variety of downloadable apps and features.

Garmin is well behind industry-leader Fitbit in wearables,  but it continues to move up the ladder. By the end of 2016's third quarter, it had leapfrogged Apple, shipping 1.3 million units to become the world's third-largest  wearables manufacturer with a 5.7% market share. Fitbit still rules the roost by a significant margin: It shipped 5.3 million devices in the third quarter,  accounting for 23% of the global market.

10 stocks we like better than Garmin
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Garmin wasn't one of them! That's right -- they think these 10 stocks are even better buys.

Click here to learn about these picks!

*Stock Advisor returns as of January 4, 2017

Tim Brugger has no position in any stocks mentioned. 

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.