In the company's fiscal Q3 2013 earnings report, computer peripheral maker Logitech announced its plan to sell its Harmony remote control and video security business units. Logitech's new CEO aims to discontinue several of the company's non-strategic product lines in order to shape a faster, more profitable company.
At this time last year, we were still looking forward to a refresh of the line which resulted in the Harmony Touch, but that does not appear to have turned things around. Harmony remote sales fell off by 55 percent based on units, although a focus on higher end devices like the new Touch meant revenue declined only 24 percent.
According to a slide in the presentation, after a strategic review, Logitech is focusing on tablet accessories, wireless speakers as well as keeping its lead in PC-related products. Other "non-strategic" products are also on the chopping block, and we'd have to think that includes video conferencing after yesterday's announcement.
