Stock price Garmin Ltd (GRMN) today

Garmin Ltd. is a manufacturer of GPS-navigation equipment and sports watches that are used in military equipment, navigation, aviation, land transport and tourism. It was founded in 1989 and initially was engaged in the development of navigation devices for aviation. The US Army became the first customer, - The company’s products were used during the Persian Gulf War and later began to produce GPS models, including the most popular GPS-12, which was released in 1997. By 2000, Garmin had sold three million GPS devices and released 50 different Navi models. The company’s products were sold in 100 countries and represented by 2,500 independent distributors.

In the same year, the company went public and issued shares on the NASDAQ.

With growing competition in the market of navigators, the company began to develop new markets and diversified its product line. In 2008, the company released Garmin Nuvifone - smartphones equipped with large touch screens, focused primarily on personal GPS navigation.