Posted on January 25, 2013 AT 03:25pm
The peripherals giant Logitech, well-known for their high quality products, is leaving the console peripherals market. The move is a result of down sales in the sector, after the company saw a 14% dip in sales during Q3 2013, leading to a total net loss of $195 million.
Company president and CEO, Bracken Darrell, has confirmed that the company has “identified a number of product categories that no longer fit with our current strategic direction”, and they have “plans to discontinue other non-strategic products, such as speaker docks and console gaming peripherals by the end of calendar year 2013”.
He then adds, “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 are taking immediate actions to shape a faster and more profitable Logitech. We plan to expand our presence in the growing tablet accessories category with the launch of a number of exciting new products later this quarter.”
He also says, “We are developing more mobility-related products, leveraging the powerful growth of tablets and smartphones. We intend to sustain our leadership in PC platform-related products where we have engineering, distribution and scale advantages. Our goal with PC-platform products is to maximize profitability, while investing selectively in growing categories.”
Darrell claims that these measures should significantly reduce costs and “get Logitech back to sustained profitability as quickly as possible”.
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