Logitech caught in mousetrap
2007, prior to Apple's launch of the first generation iPhone and back when it was seen as the Apple of computer accessories. The products recently launched are solid but no real game changers, said Credit Suisse technology analyst Chris Gretler.
FRESH KNOCK
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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