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|Subject: Logitech to quit making console gaming accessories Mon Feb 18, 2013 8:42 am|| |
Company to focus on PC, tablet and smartphone products
Logitech is to stop producing gaming peripherals by the end of the year, the Switzerland based firm has announced.
Bracken Darrell, CEO of the accessories maker, confirmed the news as the company posted poor third quarter financial results.
Sales were down 14 per cent year-over-year to $615 million, while the firm made a net loss of $195 million compared to profit of $55 million.
Darrell said: "As we articulated when we started the third quarter, continued weakness in the global PC market was the primary factor in our disappointing Q3 results. These results are unacceptable and we are taking decisive action as an outcome of my strategic review.
"We have initiated the process to divest our remote controls and digital video security categories, and we plan to discontinue other non-strategic products, such as speaker docks and console gaming peripherals, by the end of calendar year 2013."
Darrell said the company intends to sustain its "leadership in PC platform-related products where we have engineering, distribution and scale advantages", and develop "more mobility-related products, leveraging the powerful growth of tablets and smartphones".
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