Peripherals manufacturer Logitech has decided to exit the console peripherals business following poor third quarter financial results.
The company reported a $180 million loss for the October-December 2012 period, prompting a review of its product strategies.
“Continued weakness in the global PC market was the primary factor in our disappointing Q3 results,” said president and CEO Bracken P. Darrel.
The company’s tablet peripherals, however, have enjoyed strong sales and the company intends to make that segment its primary focus going forward.
“We are taking immediate actions to shape a faster and more profitable Logitech,” said Darrell, adding, “We are developing more mobility-related products, leveraging the powerful growth of tablets and smartphones.”
“We have initiated the process to divest our remote controls and digital video security categories, and we plan to discontinue other non-strategic products, such as speaker docks and console gaming peripherals, by the end of calendar year 2013.”
While this means an end to Logitech’s involvement in the console market, the company will continue to serve the PC market, although it isn’t clear of this includes gaming products.
"We intend to sustain our leadership in PC platform-related products where we have engineering, distribution and scale advantages," Darrell added.
Logitech has been famous for its high-end console peripherals, particularly on PlayStation platforms. The company released the Gran Turismo-branded Driving Force GT (pictured) racing wheel alongside the release of Gran Turismo 5: Prologue, and has also released high-end wheels such as the G25 and G27, which supported PS3 as well as PC.
Sign up for the free MCV India newsletter here.