Logitech hardware sales fall as inflation rises and covid bump subsides
by Jess Weatherbed from The Verge - All Posts on (#684NV)
Webcams and other home office equipment were in short supply during global Covid lockdowns due to the shift towards working from home. Now, it seems the market is stabilizing, with Logitech sales falling by 22 percent YoY. | Image: Logitech Logitech published its quarterly financial results today, revealing that the company's third-quarter sales fell 22 percent compared to Q3 last year. The decline confirms most of the preliminary results announced by the computer peripherals maker on January 11th, indicating a slowdown in customers buying home office and business equipment amid growing global inflation and the lifting of covid restrictions.
Logitech's revenue for the third quarter ending December 31st, 2022 fell to $1.27 billion, compared to the company's preliminary figures showing that sales had fallen to between $1.26 and $1.27 billion. The company noted a decline in sales across all categories, with gaming falling 16 percent, video collaboration (conferencing...