Garmin Just Picked Thailand--And It Could Change Everything

Garmin Ltd. GRMN is expanding its global footprint with a new production base in Thailandits first in Southeast Asia. The $92.5 million investment, approved by the Thai Board of Investment, will be developed under Garmin Chonburi (Thailand) Ltd. and is slated to begin operations in 2026. The factory will manufacture smartwatches and GPS navigation devices for both domestic and export markets, positioning Thailand as a strategic node in Garmin's global supply chain.

The timing may not be accidental. Thailand has seen an investment surge this year, with total applications between January and September reaching a record 1.37 trillion baht. The growth has been driven by data-center and smart-electronics projects, suggesting that Garmin's move could be part of a broader trend of global manufacturers shifting production toward Southeast Asia. As trade and supply-chain diversification continue to shape corporate strategy, the country's infrastructure and incentive programs could make it an increasingly attractive manufacturing alternative.

Garmin's latest quarterly report came in line with expectations, and management maintained full-year revenue guidance that was slightly below consensus. The company has also refreshed several of its key product lines, including mid-tier and high-end sports watches, signaling steady consumer demand. The Thailand investment could be viewed as a long-term capacity moveone that potentially strengthens Garmin's manufacturing flexibility and cost profile as it looks to capture growth in wearables and connected devices across global markets.