Logitech to sell Harmony remote division after 'unacceptable' Q3 results

Logitech has posted its financial results for Q3 of its 2013 fiscal year, and they're not too encouraging: the company made an operating loss of $180 million off sales of $615 million. Retail sales were down 14 percent year on year, and CEO Bracken Darrell has announced plans to take "decisive action" on the "unacceptable" results. And he's not kidding — the company has "initiated the process" to divest itself of its Harmony remote control division, along with its security video camera business.

By the end of this year, Logitech also plans to have discontinued "non-strategic products" including video game console peripherals and speaker docks. Darrell says the strategy is for the company to focus on PC-related products and maximize profitability. The news isn't entirely bad, though, with Darrell buoyed by "continued strong demand" for the Ultrathin Keyboard Cover for iPad.

 

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Luxul High Power AC1900 Dual-Band Wireless Access Point (XAP-1510)

Luxul High Power AC1900 Dual-Band Wireless Access Point (XAP-1510)

The all new XAP-1510 offers a best in class Wireless Access Point designed specifically for the CI channel. Combining high output power and leading-edge 802.11ac 3x3 Dual-Band technology with Beamforming, the XAP-1510 delivers data rates up to 1900Mbps along with outstanding wireless coverage for a world-class Wi-Fi experience. It can be used as a standalone AP or as part of a multi-AP deployment together with Luxul's XWC-1000 wireless controller. The XAP-1510 will be available from authorized Luxul distributors in October.