After 23 years, Garmin reaches 100 million devices sold
The company says that it sold 25 million devices in 2007, indicating its sales are accelerating over its lifetime.
Garmin's GPS devices have reached a significant milestone.
The company announced today that it has now sold 100 million Garmin devices worldwide since its founding in 1989. The first Garmin device was sold in 1991, the company said, and took six years to reach its one-millionth sale. By 2007, it had sold 25 million devices. Now, just five years later, it has tripled that figure.
Based on the data provided by Garmin, sales are accelerating. In fact, Garmin acknowledged that much in a separate earnings release today, saying that it sold 2.7 million GPS units during the first quarter of 2012, representing a 7 percent increase over the same period last year. The higher sales helped push revenue in its automotive/mobile segment, a key part of its operation, up 6 percent to $280 million. Its many other divisions, including the fitness and and outdoor businesses, also saw revenue rise.
To commemorate its achievement, Garmin will place a special logo on its product packaging, point-of-purchase materials, and just about everywhere else its insignia is on display.