Manufacturer Logitech has announced they will start the process of discontinuing some of their PC products including, remote controls and console gaming peripherals, after suffering a $180 million loss for the third quarter for this year.
Logitech also announced the company would be developing more mobility-related products to keep up with smartphones and tablets. CEO Bracken P. Darrell, said in a press release the company isn’t pulling out of PC products all together, but rather will continue making products with “engineering, distribution and scale advantages.”
The company has identified “a number of product categories that no longer fit with our current strategic direction.” he adds, and that the weakness in the PC market was the main factor in the financial results.
Logitech plans to discontinue their gaming console peripherals and speaker docs by the end of 2013, along with remote controls and digital video security categories.
For the third quarter of 2013, the company posted their sales at $615 million, down 14 per cent from 2012. Their operating loss of $180 million included a non-cash goodwill impairment charge, estimated to be $211 million that was announced Tuesday.
“These results are unacceptable and we are taking decisive action as an outcome of my strategic review,” said Darrell.
The press release also hinted at some new products coming from Logitech later in the quarter.
