Logitech Revue Slashed to $99 as CEO Departs
Logitech has announced their first quarterly results for the fiscal year 2012, posting an operating loss of $34 million. Why so rough? Largely because of poor sales of Google TV Revue units. The company has slashed the price to $99 each, down $200 from where it was less than ten months ago and that cost the company a bunch of money.
The Company also experienced minimal sales growth in its Americas region, primarily due to very weak sales in the Digital Home category. Logitech’s loss in Q1 was compounded by the significant impact of the decision to reduce the price of Logitech Revue from $249 to $99 during Q2. The action was taken with the goal of accelerating adoption of the Google TV platform by removing price as a barrier to broad consumer acceptance.
One of the Revue’s biggest advocates, Logitech CEO Gerald P. Quindlen, has departed the company, in what can only be construed as a directly related incident. Maybe, just maybe, the Android Market will get the Revue and Google TV off and running.