Garmin

Garmin is a conglomeration of technology companies that specializes in the manufacture and distribution of Global Positioning System (GPS) hardware and devices. Although the company's main focus is on consumer-level products, Garmin also manufactures GPS equipment for aviation markets. Though it is headquartered in Kansas, Garmin's subsidiaries are chiefly concentrated in Asia, with its largest center in Taiwan.

Fast Facts

1. Stock symbol: GRMN (NASDAQ)
2. Annual revenue (2007): $3.18 billion
3. Founder: Gary Burrell, Min Kao
4. Year established: 1989
5. Industry: Consumer GPS technology
6. Phone: 345-946-5203
7. Fax: 345-945-3390
8. HQ: Olathe, Kansas
9. Subsidiaries: Garmin International Inc., Garmin (Asia) Corporation
10. CEO: Min Kao
11. CFO: Kevin S. Rauckman
12. Staff: 8,434

Key Dates

• April, 1989: The U.S. government's GPS satellite system is declared operational

1. 1989: Gary Burrell and Min Kao found the company, initially named ProNav
2. 1990: First product, a marine GPS receiver, is sold at $2500 per unit
3. January, 1991: Kao sets up manufacturing facilities in Taipei, Taiwan
4. 1991: Name changes to Garmin, after a rival company releases GPS receivers under the brand name ProNav
5. 1991: Their GPS receivers are popular among military personnel during the Gulf War
6. 2003: Releases the iQue line of PDAs equipped with GPS capabilities, and continues series of consumer level products

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