Logitech caught in mousetrap
The group's shares took a fresh knock on Oct. 25, plunging more than 16 percent, when the company released a dismal set of second quarter numbers, reflecting sliding PC sales.
According to data from market research firm IDC, global PC shipments fell another 8.6 percent in the third quarter.
Year-on-year sales have been down in each of the company's past four quarters. Two- thirds of Logitech's business still depends on PC sales while customers spend an ever-increasing part of their budget on mobile computing, said Andreas Mueller, technology analyst at Zuercher Kantonalbank (ZKB).
Although Logitech is catering increasingly to mobile users, the need for add-ons in this segment is much lower, he said.
Semir Saleh, 25, is a case in point. A video-designer from London who is in Zurich freelancing for Swiss internet companies, Saleh said he had very little use for accessories.
The iPad comes with everything I need, he said.
I use for instance Skype a lot. The new one even comes with a camera so there is no need to buy one. According to Reuters company data, Logitech sales over the coming years are likely to stagnate at around 2.3 billion Swiss francs ($2.49 billion).
TURNING THINGS AROUND?
Chief executive Darrell was brought in from
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