Apr 29, 2011 12:12 GMT  ·  By

It looks like Logitech is not one of those companies that went through that good a financial quarter, the company having actually missed sales estimates by a rather serious proportion.

As always, there is no real shortage of financial reports on the part of the many companies on the IT market.

In fact, some large-profile companies were able to boast of having managed to perform very well, even exceeding their previous records in some cases.

Intel was the best off, apparently, while ARM also shined, and while AMD did not get near their performance, it still raked some profit during the first quarter of 2011.

Now, it is revealed that Logitach could very well be said to lie at the other end of the spectrum, after fairly underwhelming Revue product sales, to say the least.

Logitech is one of the companies that embraced the Google TV initiative, so it created the Revue Google TV set-top box.

At first, the company hoped for $18 million worth of Google TV product shipments for the previous quarter (the fourth fiscal quarter).

The reason behind this optimism was the fact that, for the quarter before that, sales were of $22 million. Unfortunately, the actual outcome was far below the $18 million hope, by about 70% in fact.

In other words, Logitech only managed to reap $5 million in Revue Google TV sales in Q4, this having the effect of causing inventories to rise by 28%. It also prompted the price decrease for the Revue to $249.

The Google TV service was launched in May 2010 and the Logitech Revue set-top box began selling in October. Unfortunately, users ended up thinking that the platform itself was too complicated.

Still, Logitech has not yet given up on it, with CEO Gerald P. Quindlen having reportedly told investors that he is still enthusiastic about Google TV and that the next generation will be aided by access to the Android Market and, thus, many apps users can enjoy.