GRMN

Garmin Ltd. designs, develops, manufactures, and markets navigation, communication, and information devices and applications worldwide. Headquartered in Schaffhausen, Switzerland, with operational headquarters in Olathe, Kansas, the company operates through five primary segments: fitness, outdoor, aviation, marine, and automotive. Garmin's product portfolio includes GPS navigation systems, wearable fitness devices, smartwatches, marine electronics, aviation avionics, and outdoor recreation products. The company serves both consumer and commercial markets, with notable brands including Garmin, Tacx, and Navionics. Garmin maintains a strong market position in the fitness wearables sector, competing with Apple and Samsung, while dominating specialized markets in aviation and marine electronics. The company employs approximately 19,000 people globally and operates manufacturing facilities in Taiwan, China, and the United States. Garmin reported fiscal 2023 revenue of $4.87 billion, with fitness and outdoor segments representing its largest revenue contributors. Recent strategic initiatives include expanding its aviation portfolio through the acquisition of aerospace technology companies, enhancing smartwatch capabilities with advanced health monitoring features, and developing marine autopilot systems. The company maintains vertical integration by designing and manufacturing most of its products in-house, which provides quality control and competitive advantages in product development cycles.