14 DAY TRIAL // Logitech, one of the world's leading makers of PC peripherals, announced today that it has been offered seven CES 2009 Innovation awards, recognizing the company's excellence in design and engineering. Among some of its winning products, we should mention the newly introduced G13 advanced gameboard and the Harmony 1100 advanced universal remote, which have won the Best of Electronic Gaming award and the Best of Home-Theater Accessories award, respectively.
“Logitech is privileged to be honored by such a prestigious panel of judges,” said Gerald P. Quindlen, the company’s president and chief executive officer. “This marks the second year in a row that Logitech has won seven CES Innovation awards, confirming once again our strong commitment to innovative design and engineering. We are very excited that these Logitech products can share the spotlight with so many other innovative products from around the world.”
Aside from the aforementioned two prizes, Logitech can pride itself for wining the following CES Innovation awards: Honoree in Electronic Gaming, for the Logitech G35 headset and the Logitech Driving Force GT, Honoree in Audio Components, for the Logitech Squeezebox Boom, Honoree in Computer Peripherals, for the Logitech Z-5 Speakers and the Logitech Illuminated Keyboard. Most of these products have been recently released by the company, which means that they will likely become successful in the upcoming year.
In related news, Logitech is said to have decided to withdraw its Fiscal Year 2009 growth targets for sales and operating income. In addition, the company is expected to provide an even more grim perspective with the announcement of its Q3 FY 2009 figures. Also, the gaming peripheral maker said that it would cut down its workforce by as much as 15%.
“During the December quarter, the retail environment deteriorated significantly,” said Gerald P. Quindlen, Logitech president and CEO. “We experienced varying degrees of weakness across all geographies and channels as our customers reduced inventory levels in the face of weaker consumer demand. Moreover, we expect the economic environment to worsen in the coming months and we are therefore taking significant actions to align our cost structure with what is likely to be an extended downturn.”
As with most other companies, Logitech appears to have been seriously affected by the worldwide slow market demand, which the recent news only comes to confirm.