Logitech recorded increase thanks to lock-downs

12 / 05 / 2020
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Logitech announced a 13.6% increase in quarterly revenue on Tuesday as more people used their computer products to work from home due to the coronavirus crisis. For the full year, the company recorded a 6.7% increase in sales, thus fulfilling its forecast for a medium to single-digit percentage increase. Logitech also maintained its March forecast of a moderate single-digit percentage increase in sales in constant currencies for the year to the end of March 2021 and an increase in operating profit to $ 380-400 million.

“Video conferencing, telecommuting, content creation and streaming, and gaming are long-standing secular trends that drive our business,” said Bracken CEO Darrell in a statement. “The pandemic has not changed these trends; hastened them. ”

The increase in teleworking – teachers who teach lessons via video and doctors providing virtual consultations – has helped increase revenue in the company’s fiscal fourth quarter to $ 709.2 million from $ 624.3 million a year earlier.

People locked up at home also spent more time playing computer games, and sales of keyboards, mice and gaming headsets increased 8%, despite a hard comparison last year as demand increased due to the success of Fortnite.

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