Logitech Looks to Sell Harmony Remote Business

Logitech announced disappointing earnings for its Q3 2013 fiscal period. Sales were down 14% year-over-year and the company reported a net loss of $195 million ($1.24) per share.

As a result, CEO Bracken Darrell is focused on making serious changes to Logitech's business. On the earnings call following the release, Darrell set out a bold set of plans for the business that include selling off the Harmony remote business and doubling down on mobile and tablets.

On the earnings call, Darrell noted that, "[Logitech's] Q3 results were unacceptable." He cited the weakness in the global market for new PCs and the "slow transition to Windows 8" as major factors in the results.

"The PC marke…
Continue reading...

More About: harmony, logitech