Logitech posts rosy results

Logitech posts rosy results

Computer peripherals vendor Logitech has reported its best quarter ever with sales growth of 18 per cent and net income growth of 22 per cent in the fourth-quarter of 2002.

Driven by new market segments such as PC speakers (a 142 per cent gain) and gaming consoles (more than 100 per cent), the company significantly improved sales to both retail and OEM partners.

While the vendor does not break down its figures for each country, Logitech Australia managing director, Marco Manera, said the local subsidiary’s growth over 2003 was “phenomenal” and higher than the average growth for the company worldwide.

Manera said the market for console products (accessories for gaming consoles such as the Playstation 2) was booming and the cordless peripherals segment (cordless mice, keyboards, trackballs etc) was "going through the roof".

“If you look at the console products, the retail mass merchants is where all the action is happening,” he said. “For the rest of the range the success was across the board – we were strong in retail, but there are also more and more systems integrators offering cordless products in their high end solutions.”

Manera said that in 2003 he expected convergence to play a major part in continuing to drive this growth. Logitech would continue to push hard on accessories for notebooks such as PC Video cameras but would also make its first foray into accessories for mobile phones.

“These technologies will converge more and more,” he said. “A lot of PC resellers have already moved into mobile technology and vice versa. It is a big challenge for resellers to get right – those that offer the complete solution across both markets will score the winning points in 2003.”

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