Garmin Arrives at a Milestone: 100 Million Products Sold
OLATHE, Kan./May 2, 2012/Business Wire — Garmin Ltd. (NASDAQ: GRMN),
the
global leader in satellite navigation, today announced that it has sold more than 100 million of
its
products to motorists, pilots, boaters, runners, cyclists, golfers, hikers, hunters, and geocachers
–
who all depend on Garmin to help show the way.
“This
is
a tremendous milestone for Garmin. In just 23 years, we’ve gone from a startup company
into
one that is a global consumer brand – and one that continues to extend its reach by creating
new
markets and product categories that focus on location technology,” said Cliff Pemble, Garmin’s
president
and COO. “It is our associates and customers who have made this achievement possible.
Garmin
is fortunate to have a global workforce that is passionate, able to dream big and execute
successfully
on those ideas. Our customers are also passionate about their Garmin devices, and
the feedback
they provide has been instrumental in delivering new products that make their activities
safer, more
successful, and more enjoyable.”
Garmin was founded in 1989 by
a small group
of engineers with a big idea: that GPS technology could be utilized by everyday consumers
for both work
and play. In 1991, Garmin sold its first GPS-enabled device. Six years later,
in 1997, the
company sold its millionth unit. A decade after that, in 2007, it had sold 25 million
devices.
It only took another five years for Garmin to sell its 100 millionth product.
In
addition
to continually advancing its highly diversified automotive/mobile, fitness, outdoor, marine,
and aviation
markets, Garmin is growing its presence geographically in emerging markets like China, India,
and South
America; investing in its global automotive OEM capabilities; and making key strategic acquisitions
that
enhance the company’s technology portfolio.
The 100 million milestone
will
be celebrated through a commemorative logo to appear on product packaging, in point-of-purchase
materials,
in Garmin’s online assets, and available to Garmin dealers. Learn more about Garmin
at Garmin.co.th, and
join the conversation at Twitter.com/Garmin;
Facebook.com/Garmin; YouTube.com/Garmin;
or Garmin.blogs.com.
About Garmin
Garmin
International Inc. is a subsidiary of
Garmin Ltd. (Nasdaq: GRMN), the global leader in satellite navigation.
Since 1989, this group of companies
has designed, manufactured, marketed and sold more than 100 million
navigation, communication and information
devices and applications – most of which are enabled
by GPS technology. Garmin’s products
serve automotive, mobile, wireless, outdoor recreation, marine,
aviation, and OEM applications. Garmin
Ltd. is incorporated in Switzerland, and its principal subsidiaries
are located in the United States,
Taiwan and the United Kingdom. For more information, visit Garmin’s
virtual pressroom at http://www8.garmin.com/company/newsroom/ or
contact the Media Relations department at
913-397-8200.
Notice on Forward-Looking
Statements:
This
release includes forward-looking statements regarding Garmin
Ltd. and its business. Such statements are
based on management’s current expectations. The
forward-looking events and circumstances
discussed in this release may not occur and actual results could
differ materially as a result of known
and unknown risk factors and uncertainties affecting Garmin, including,
but not limited to, the risk
factors listed in the Annual Report on Form 10-K for the year ended December
31, 2011, filed by Garmin
with the Securities and Exchange Commission (Commission file number 0-31983).
A copy of such Form
10-K is available at www.garmin.com/aboutGarmin/invRelations/finReports.html.
No forward-looking
statement can be guaranteed. Forward-looking statements speak only as
of the date on which they
are made and Garmin undertakes no obligation to publicly update or revise any
forward-looking statement,
whether as a result of new information, future events, or otherwise.