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

This is Control4 Home Automation with Amazon Alexa.

This is Control4 Home Automation with Amazon Alexa.

INTRODUCING THE SIMPLEST WAY TO CONTROL YOUR ENTIRE HOUSE YOUR VOICE. Imagine this... We've all been there-walking through the door into a dark house, arms full. Wouldn't it be nice to tell your house to offer a helping hand? Now you can. A simple voice command-such as "Alexa, turn on Welcome"-lights up the hallway and kitchen, fires up your favorite Pandora station, while the door locks itself behind you. This is Control4 Home Automation with Amazon Alexa.