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Logitech will exit the console accessory business

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Logitech is trimming the fat of its business after reporting disappointing financial results for the third quarter of its fiscal 2013 year. Logitech had an operating loss of $180 million and suffered a 14% loss in sales compared to its Q2 fiscal 2012 year. Considering these numbers, Logitech’s president and CEO Bracken P. Darrell announced Logitech’s intentions on discontinuing its console video game peripherals sometime before the end of this year.

“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,” said Darrell in a press release. When asked for clarification, Logitech told us the company will continue to make PC gaming accessories. Only console peripherals will be discontinued.

Logitech blames its Q3 results on what it calls “continued weakness” in the PC sector around the world. On the flip side, mobile accessories such as its Ultrathin Keyboard Cover for the iPad have been doing quite well. Moving forward, Logitech will focus more on tablet and smartphone accessories. At the same time, it hopes to strengthen its presence in the PC market by getting rid of the divisions that aren’t profitable anymore. That includes its Harmony remote control business and its digital video security products.

Source [Logitech]

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