Disappointing Q3 earnings due to flagging global PC market to blame.
Posted by Daniel Tonks on January 24, 2013 at 1:15 AM
Logitech has announced plans to sell off both their Harmony remote control line as well as digital video security products, as part of a focus shift plan to restructure the company following a 14 percent year-over-year decrease in sales during Q3 2012.
Logitech President and CEO Bracken Darrell says: “We are taking immediate actions to shape a faster and more profitable Logitech ... As a result, 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 adds, “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.”
A buyer for the Harmony has not yet been found, and the sale isn’t expected to happen until late in 2013.
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