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Garmin
 | |
| Formerly | ProNav (1989-1990) |
|---|---|
| Company type | Public |
| ISIN | CH0114405324 |
| Industry | Technology Consumer electronics Software services Online services |
| Founded | October 1989 (as ProNav) in Lenexa, Kansas, U.S. |
| Founders | |
| Headquarters |
|
Area served | Worldwide |
Key people | Cliff Pemble (President & CEO) Min Kao (Chairman) Doug Boessen (CFO) Josh Maxfield (VP, General Counsel) Patrick Desbois (Co-COO) Brad Trenkle (Co-COO) |
| Products | GNSS receivers, avionics, wearable technology |
| Revenue |  US$5.23 billion (2023) |
| US$1.09 billion (2023) | |
| US$1.29 billion (2023) | |
| Total assets | US$8.60 billion (2023) |
| Total equity | US$7.01 billion (2023) |
Number of employees | c. 20,000 (2024) |
| Website | garmin |
| Footnotes / references [1] [2] | |
Garmin Ltd. is an American multinational technology company based in Olathe, Kansas.[3][4] The company designs, develops, manufactures, markets, and distributes GPS-enabled products and other navigation, communication, sensor-based, and information products to the automotive, aviation, marine, outdoors, and sport markets.[5]
Garmin was founded in 1989 by Gary Burrell and Min Kao in Lenexa, Kansas.[6][7][3] In 1996, the company established corporate headquarters in Olathe, Kansas. Since 2010, the company has been legally incorporated in Schaffhausen, Switzerland, with principal subsidiaries located in the United States, Taiwan, and the United Kingdom.[8]
As of 2023, the company has over 20,000 employees in 34 countries with an operating income of 5.23 billion USD.[9] Garmin was initially associated with personal in-car navigation devices, but now offers several product lines across different markets, with an emphasis on smartwatch technology. In 2022, Garmin smartwatches represented the largest market share of the premium smartwatch market (watches greater than $500), leading to it having the fifth largest share of overall smartwatches sold and the third by revenue.[10]
As of February 2023, Garmin has shipped more than 282 million products worldwide.[11]
- ^ "Garmin Ltd. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 21, 2024.
- ^ "GRMNm.BA". Reuters. August 12, 2024.
- ^ a b Cite error: The named reference
:0was invoked but never defined (see the help page). - ^ "How high can Garmin Ltd. (GRMN) stock go? Analysts hold $40.11 price target". CWRUOBSERVER. Retrieved April 29, 2016.
- ^ "Garmin Ltd". www.bloomberg.com. Retrieved January 31, 2025.
- ^ Cite error: The named reference
:3was invoked but never defined (see the help page). - ^ Bond, Maia (July 21, 2022). "Garmin asks Olathe to approve $44 million project cost increase for headquarters expansion". The Kansas City Star.
- ^ Cite error: The named reference
:29was invoked but never defined (see the help page). - ^ "Garmin Ltd" (PDF). garmin.com. June 24, 2024.
- ^ Lovejoy, Ben (May 31, 2022). "Smartwatch market leader Apple 'irreplaceable,' but doesn't lead premium segment". 9to5Mac. Archived from the original on September 10, 2022. Retrieved January 31, 2025.
- ^ "Garmin 2023 Annual Report" (PDF). garmin.com.
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