It hasn’t been a great quarter for Logitech, and it’ll start effecting their console video game accessories department. This might not be a surprise, seeing how most console gamers are using other companies’ devices, like Astro Gaming, Turtle Beach, and various other companies. During around the same time last year, the company actually saw a $55 million dollar net profit. Since then, Logitech has posted a total net loss of nearly $200 million dollars.
Logitech CEO, Bracken P. Darrell stated the following, “These results are unacceptable, and we are taking decisive action as an outcome of my strategic review.” He also added, “We are developing more mobility-related products, leveraging the powerful growth of tablets and smartphones. We intend to sustain our leadership in PC platform-related products where we have engineering, distribution and scale advantages.” This is obviously bad news for fans of Logitech hardware, even though their console peripheral line isn’t the most popular, they do have some great products. It seems like companies everywhere are experiencing financial problems, we already know the crazy week THQ has had. Zynga is another company that has experienced a lot of financial issues as well. Hopefully with the new plan Logitech has, things will start to pick up.