After a wave of Japanese companies reported decidedly un-Apple earnings yesterday, Logitech, known mostly for their universal remotes and computer peripherals, announced a $29.6 million net loss versus $12 million in the black during the same quarter last year. What changed? Well, it’s probably really tough to piece it together. Let’s look at Logitech’s press release:
“Included in Logitech’s Q1 FY 2012 operating loss is a $34 million charge to cost of goods sold due to a planned price reduction on Logitech Revue with Google TV.”
I guess it’s not that tough to parse. GoogleTV single-handedly buried Logitech’s earnings. And their books weren’t the only thing stomped.
“In a separate announcement today, Logitech said that Chairman Guerrino De Luca has assumed the additional role of acting president and chief executive officer, succeeding departing CEO Gerald P. Quindlen.”
You probably remember De Luca as one of the more enthusiastic supporters of GoogleTV’s potential on the set-top. He probably didn’t mean “potential to destroy my career”.
The good news is you can now get a Revue for the price of an AppleTV, although you may have to blow a bit of dust off the box.