![]() ![]() By 1999, sales had reached $233 million and a profit of $64 million. īy 1995, Garmin's sales had reached $105 million, and it had achieved a profit of $23 million. The company was later renamed "Garmin", a portmanteau of its two founders, Gary Burrell and Min H. ProNav's first product was a GPS unit which sold for US$2,500. They founded Garmin in 1989 in Lenexa, Kansas, as "ProNav". Kao from the defense contractor Magnavox while working for the former King Radio.
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