Thursday, July 28, 2011

Logitech loses his head

Logitech has entered the first quarter of its fiscal year 2012 (which corresponds to the second quarter of calendar year 2011) on a sales decline of 4% and a net loss of $ 30 million. This poor record has claimed its place in the CEO Gerald P. Quindlen who is temporarily replaced by President Guerrino De Luca until the group finds a new CEO.

Logitech's sales reached only $ 480 million in the first quarter of 2012 against 479 million the previous year. Given the favorable exchange rate, these figures actually show a decrease of 4%. Operating income is negative (- $ 34 million) but takes into account an anticipated price drop box Logitech Revue / Google TV $ 249 to $ 99.

Logitech also evokes sales "very low" in the USA in the category Digital Home. Sales in retail trade remained stable in the U.S. but down 14% in EMEA (Europe Middle East Africa). Sales to OEM, they, down from 16% in the world.

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