Logitech CEO, Bracken Darrell, has confirmed that the company will stop producing console gaming accessories by the end of the year. According to Herald Online, Logitech’s third quarter of the 2013 Fiscal Year saw sales down 14% (at $615 million) and a net loss of $195 million. During the same period last year, sales were at $715 million and they had a net income of $55 million.
According to a statement released by Darrell, Logitech has “…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”, Logitech does, however, plan to maintain their “leadership in PC platform-related products where we have engineering, distribution and scale advantages”, and also develop “more mobility-related products, leveraging the powerful growth of tablets and smartphones”.
Report filed by Thomas Coutts