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Logitech is to ditch console accessories and sell off its remote and video security division, Harmony, after reporting poor results for fiscal Q3.
According to Pocket Lint, Logitech reported net losses of $195 million, having seen a 14 per cent year-on-year decrease in sales.
The move to sell the division is apparently part of a plan to refocus on those areas where the company expects to make profit, such as tablet accessories, while cutting away less profitable divisions, which includes speaker docks, console peripherals and remotes.
“These results are unacceptable and we are taking decisive action as an outcome of my strategic review. I was pleased with the continued strong demand for our Ultrathin Keyboard Cover in Q3. We plan to expand our presence in the growing tablet accessories category with the launch of a number of exciting new products later this quarter.” said Logitech’s CEO Bracken Darrell.
“We are taking immediate actions to shape a faster and more profitable Logitech. 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.”
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