Logitech to phase out production of console gaming accessories
The third quarter of fiscal 2013 wasn't especially awesome for Logitech, despite the fact that I personally spent 30 of my own dollars on a wireless keyboard within that time frame. Whereas the same period last year saw a net profit of $55 million, Logitech posted a net loss of $194.9 million in its most recent earnings report.
As a result, some of Logitech's divisions will be scaled back, while others will be discontinued altogether. "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," said Logitech president/CEO Bracken P. Darrell.
While Logitech's console peripheral business will disappear, the company's PC gaming offerings will remain unchanged. We've also been able to confirm that Logitech console accessories that have already been purchased will continue to exist, and will not crumble into piles of dust. These cost reduction measures are expected to take place "by the end of Calendar Year 2013."
