Big name Switzerland firm, Logitech, has announced it will discontinue the production of accessories for console gaming systems by the end of the year and focus on PC, tablet and smartphone products The news for Logitech's new focus was confirmed by CEO of accessories, Bracken Darrell, while also confirming the company's very poor third quarter financial results
Sales have dropped 14 percent year-over-year to $615 million, while the firm had a net loss of $195 million compared to the profit of $55 million
Darrell said: "As we articulated when we started the third quarter, continued weakness in the global PC market was the primary factor in our disappointing results. These results are unacceptable and we are taking decisive action as an outcome of my strategic review"
Darrell adds, "We have initiated the process to divest our remote controls and digital video security categories, and we plan to discontinue other non-strategic products, such as speaker docks and console gaming peripherals, by the end of the 2013 calendar year"
The CEO also stated that the company intends to sustain its leadership in PC platform-related products where they have engineering, distribution and scale advantages, and develop more mobility-related products, leveraging the powerful growth of tablets and smartphones
