Schaffhausen, Switzerland/April 18, 2012/Business Wire - Garmin Ltd. (Nasdaq: GRMN), the global leader in satellite navigation, today announced that it has opened new offices in Shanghai (China), Stuttgart (Germany) and Yokohama (Japan) to support its growing presence in the automotive OEM market. The new offices are in close proximity to leading car manufacturers and top-tier automotive suppliers and will host a dedicated staff of Garmin associates who specialize in automotive OEM sales, marketing, product development and engineering. The announcement comes on the heels of Garmin’s recent opening of a dedicated automotive OEM office in Detroit.
“Our new worldwide automotive OEM offices will provide local support for our global customer base and help us to further drive innovation as we pursue new business opportunities,” said Matt Munn, Garmin’s managing director automotive OEM. “Having dedicated experts in some of the biggest automotive markets around the world also helps us to efficiently customize our technology to the local needs of international markets.”
Garmin’s new offices are of strategic value for the company’s automotive OEM group. The new locations will support Garmin’s efforts to not only provide navigation software and integrated portable navigation systems to the automotive industry but to utilize its experience in hardware, user interface and software development to provide fully- integrated infotainment and telematics systems. Garmin announced its first factory-installed in-car infotainment system for selected 2013 model year Suzuki vehicles at the New York International Auto Show 2012.
Garmin’s automotive OEM group provides a broad range of in-vehicle electronics for the automotive industry, including infotainment and telematics systems, navigation software, location-based services, and integrated portable navigation systems. Garmin has agreements with leading brands in the automotive sector such as BMW, Chrysler, Honda, Kenwood, Panasonic, Suzuki and Toyota, among others. The company’s in-car navigation in the Dodge Charger was recognized as “Highest Customer Satisfaction With Factory Installed Navigation Systems” in the J.D. Power and Associates 2011 U.S. Navigation Usage and Satisfaction StudySM.
About Garmin Ltd.
The global leader in satellite navigation, Garmin Ltd. and its subsidiaries have designed, manufactured, marketed and sold navigation, communication and information devices and applications since 1989 – 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 www.garmin.com/pressroom or contact the Media Relations department at 913-397-8200. Garmin is a registered trademark of Garmin Ltd.
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Garmin’s navigation system in the 2011 Dodge Charger received the highest numerical score in the J.D. Power and Associates 2011 Navigation System Usage and Satisfaction StudySM. Study is based on 18,303 owner responses that leased or purchased 2011 model-year vehicles with factory-installed navigation systems. Based on experiences and perceptions of consumers surveyed October 2011. Your experiences may vary. jdpower.com
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.