Logitech Chief P. Bracken Darrell blames the poor financial performance on weak demand in the global PC market. Darrell announced that Logitech will have greater focus on the mobile market, particularly tablets and smartphones. The company has identified several product lines that do not fit into the new mobile strategy, including a music dock, controllers for consoles, video surveillance systems and Harmony universal remotes.
Darell said “As a result, 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, by the end of calendar year 2013“. Logitech therefore announced that they are going to sell off the Harmony department (and probably other divisions above), while the process of elimination of unprofitable product lines should be completed by the end of this year.
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