General

Logitech reported on the results of work in the last quarter

Logitech reported on the results of work in the past quarter. Revenue of Logitech was reduced by 22%. Company

recorded high demand for its products duringduring the coronavirus pandemic, but after the restrictions were lifted, demand began to weaken, and rising inflation and the desire of consumers to save amid political uncertainty are also contributing to the decrease in demand. In the fourth quarter, Logitech sales amounted to $1.27 billion operating profit of the company fell by 32% to $204 million. Logitech notes a decrease in revenue in both the consumer sector and in the segment of corporate consumers. For the current quarter, the company predicts that sales will decline by 13-15%. Operating income for the current fiscal year, which will end in March, will be between $550 million and $600 million.