Logitech has reported a disappointing final quarter of fiscal 2008, with retail sales declining by 32 per cent to $408 million and a net loss of $35 million.
In the same quarter last year Logitech recorded $601 million in sales and net profit of $60.3 million.
“The primary cause of the year-over-year decline in our Q4 sales was the economic downturn,” said Logitech’s president and CEO Gerald P. Quindlen.
“Our sales were negatively impacted by the combination of weak consumer demand and the accelerating reset by our channel partners of their weeks of supply. A contributing factor to our sales decline was the effect of the stronger U.S. dollar.”
Advertisement
Related Stories
- The Hut Group sees 70 per cent growth Feb 10th 2012 at 4:49PM
- Apple ordered to cease iPhone and iPad sales in Germany Feb 3rd 2012 at 3:05PM
- Kindle Fire sales estimated at two million Dec 2nd 2011 at 1:14PM
- iPhone 4S October sales surge Nov 29th 2011 at 6:46AM
- Micro-P launches financial services Nov 25th 2011 at 1:33PM
- Consumer electronic sales decline Nov 25th 2011 at 1:10PM
- Online sales to hit £7.75 billion Nov 14th 2011 at 1:24PM
Follow Follow this article if you would like to receive notifications of updates.
Add a new comment
You need to be logged in to post comments. If you do not have an account then please register.
Comments
0 comments
There are no comments yet, be the first to add one!