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Gaming peripheral manufacturer Logitech is shuttering its development of console accessories in favour of mobile and PC doodads following a loss of $180 million dollars, the company announced in its latest financial report. "As we articulated when we started the third quarter, continued weakness in the global PC market was the primary factor in our disappointing Q3 results," said Logitech president and CEO Bracken P. Darrell. "These results are unacceptable and we are taking decisive action as an outcome of my strategic review."
Part of this review dictates that Logitech steer away from poor-selling console peripherals by the end of the year. "We have also identified a number of product categories that no longer fit with our current strategic direction," said Darrell. "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 Calendar Year 2013."
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