Longtime peripheral manufacturer Logitech doesn?t want anything to do with console gaming anymore.
As reported in Polygon, Logitech reported an operating loss of $180 million for its fiscal third quarter, and its sales were down 14 percent. The company attributes most of its troubles to a weak PC market, but its leadership is planning to overhaul most of its operations. That includes shutting down its console peripheral business.
Logitech will continue its work with PC gaming peripherals.
?We are taking immediate actions to shape a faster and more profitable Logitech,? the company?s chief executive officer Bracken P. Darrel said in a statement to investors. ?We are developing more mobility-related products, leveraging the powerful growth of tablets and smartphones. We intend to sustain our leadership in PC platform-related products where we have engineering, distribution, and scale advantages.?
Darrell pointed to the sales of its Ultrathin Keyboard Cover for iPad as an example of a successful product that it hopes to capitalize on.
?We have also identified a number of product categories that no longer fit with our current strategic direction. As a result, 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 year].?
In the console gaming space, Logitech never had the presence of companies like Madcatz or Nyko. It?s unlikely that gamers will notice that store shelves at GameStop or Walmart no longer