The third quarter of this fiscal year wasn’t that good for Logitech. However, the same period last year was exceptional for the company, as it saw a net profit of $55 million. The company has filed a loss of $194.9 million in its latest financial summary.
Owing to this, some divisions of the company will be scaled back, while others will be completely discontinued. Bracken P. Darrell, CEO of Logitech, said that the company plans to limit remote controls and few digital video security assets. It also intends to stop producing non-strategic goods like speaker docks and gaming console supporting material.
The company’s PC gaming line products shall continue, but its console peripheral devices will disappear. Logitech’s console accessories that have been bought already will continue to exist, All these cost reduction measures will come in effect by the end of year 2013.
Logitech International is a worldwide supplier of computer accessories. Its headquarter is based in Switzerland and manufactures peripheral devices like keyboards, game controls, mouse, etc. The company has a range of audio related products like headphones, wireless audio device and MP3 players. Besides Swiss headquarters, Logitech has offices in Europe, Asia and few other regions in America as well.