What goes up must come down: Logitech sales tumble amid PC slump
The company previously forecast a decline in turnover of between 8 and 4 percent in constant currency for its final quarter of fiscal '23, and non-GAAP operating income of $650 million to $750 million. Following the downgrade, Logitech now estimates sales to fall between 15 to 13 percent and non-GAAP income of $550 million to $600 million.
In a statement that sounds potentially ominous for staff, Darrell added:"We will continue to manage our costs to drive solid operating performance and will provide more detail on our earnings call later this month." PC shipments swelled to 348 million at the end of 2021 as much of the Western world began working at home to comply with government-imposed lockdowns. Beyond this, demand for mice, keyboards, screens and webcams went through the roof, lifting companies such as Logitech.PC sales for 2022 came in at 292.3 million
, and although these were preliminary calculations, the figure is unlikely to go up or down by a huge swing. So just as vendors and their distributors are throwing caution to the wind by reducing PCs prices, Logitech and its legion of third-party sellers might also be looking at different incentives to drum up business. Or it may decide to take some actions to cut its cloth accordingly. ®
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