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Logitech's 'disappointing' Q4 results not helped by poor Revue sales; will cut price to $249

Richard Lawler, @Rjcc
April 29, 2011
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There wasn't much good news for Logitech investors when the company revealed its results for the financial fourth quarter, as it fell far below targets for sales and revenue. Most of the blame went towards weak performance in Europe, the Middle East and Africa, but it also suffered from far lower than expected sales of the Google TV-powered Revue and its accessories, accounting for only $5 million in sales, down from $22 million the quarter before and short of its estimate of $18 million. Beyond fixing its issues overseas, CEO Gerald Quindlen still sees a future where internet connected TVs follow a similar path to smartphones and cited the next generation of Google TV as a major opportunity. Starting in May, the company will cut the price of the Revue to $249 (which is still at least $50 too high) and plans to "re-accelerate" its marketing at "the appropriate time" -- probably sometime after Google I/O and the addition of the Android Market. As for that current hardware, both the Revue and the Sony Google TV products received unspecified "security updates" today, although Qriocity and Music Unlimited access remained offline on our Sony Internet TV unit. So let's do the postmortem and guess what contributed to the low sales more: high prices, a half baked product or ads featuring a hairy-legged TV and Kevin Bacon?

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