Garmin GPS and Wearable Devices

Garmin was established in 1989 by Gary Burrell and Min Kao, originally under the name ProNav, in Lenexa, Kansas. The brand name 'Garmin' is a portmanteau of the two founders' first names. From its inception, the company focused on Global Positioning System (GPS) technology, initially serving marine and aviation markets before expanding into automotive and wearable fitness technology.

Today, Garmin operates under a vertically integrated business model, meaning it handles most of its design, manufacturing, and distribution in-house. While the company is operationally headquartered in Olathe, Kansas, its manufacturing is heavily concentrated in Taiwan, where over 95% of its consumer wearable products are produced. Aviation and certain marine products are manufactured at its facilities in the United States (Kansas and Oregon), and some entry-level units are produced in China. A new production facility in Thailand is planned for the near future.

Garmin Ltd. is a publicly traded company (NYSE: GRMN). While it maintains its operational heart in the United States, it is legally incorporated in Schaffhausen, Switzerland, for corporate and tax purposes. Ownership is distributed among institutional investors and individual shareholders, with co-founder Dr. Min Kao remaining a significant stakeholder and serving as Executive Chairman.