Logitech didn't have a good year in 2012, not at all, as we have written here. The video conferencing business burned it badly, and now we've found out about another division that cost Logitech more than it earned it.
As the title says, the side of the business responsible for the harmony remote control proved to be more trouble than it was worth.
That is why the Swiss peripheral maker decided to spin off the company after it incurred a loss of $180 million / 135 million Euro (retail sales down 14%).
By the end of the year, Logitech also intends to stop making video game console peripherals and speaker docks, which it calls "non-strategic products."
CEO Bracken Darrell expects Ultrathin Keyboard covers for tablets (especially iPad) and other gadgets of the sort to become more important.
Logitech Tosses Away Harmony Remote Division
Much like the videoconferencing business, Harmony was a bust
... so hot right now