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Fremont, Calif. — Logitech has purchased a Kickstarter-funded startup, TT Design Labs, creators of the TidyTilt iPhone case and the Justmount iPhone wall mount.
Terms of the deal were not disclosed.
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Newark, Calif. — Logitech International reported yet another down quarter, with declining worldwide sales, but the computer accessories company said sales in the Americas have stabilized and it is now better positioned for growth after restructuring efforts.
Newark, Calif. -- Logitech today launched pre-ordering for two tablet accessories, the FabricSkin keyboard folio for iPad and the FabricSkin folio for iPad and iPad mini without a keyboard.
The FabricSkin keyboard folio features a Bluetooth keyboard with full-size keys that are seamlessly fused into the interior fabric. The keys offer tactile feedback like a traditional keyboard, but with a much smaller profile. The keyboard delivers three months of battery life on a charge.
Newark, Calif. — Logitech International announced chief financial officer Erik K. Bardman is leaving to join Roku as its CFO.
Bardman, who has been with Logitech since 2009, will leave April 26. A statement by Logitech said the company is conducting a search of internal and external candidates for a replacement.
Newark, Calif. — Logitech has added two Bluetooth keyboards to its lineup: the Keyboard Folio and Keyboard Folio Mini, designed for the iPad and iPad Mini, respectively.
The keyboards are designed to offer more protection than the company’s Ultrathin keyboard covers. Features include full-size membrane keys, a flip stand, magnetic closures and instant on/off. Both are said to offer a three-month battery life on a full charge if the keyboard is used about two hours per day. Charging is done via MiniUSB.
Morges, Switzerland — Logitech International announced an organizational realignment that will eliminate 5 percent of its workforce and net the company up to $18 million in incremental savings for the next fiscal year, according to the company's 8K filing today.
The company anticipates recording a pretax cash charge of between $12 million and $14 million in the fourth quarter of the current fiscal year. The charge is related primarily to the personnel reductions, with the company eliminating approximately 140 positions from its worldwide labor workforce.
Newark, Calif. — Logitech has extended it Ultrathin keyboard line to include a scaled-down version for the iPad Mini.
The Logitech Ultrathin Keyboard Mini is a slim protective aluminum Bluetooth keyboard cover with cosmetics to match the Mini's finish. Its EasyType keyboard offers a QWERTY layout in a 7-inch form factor, adding iPad Mini function shortcut keys for commonly used commands such as copy and paste. It doubles as a hands-free viewing stand.
Newark, Calif. — After yet another disappointing financial period, Logitech announced it was divesting its remote control and video security categories, as well discontinuing other products.
Sales for the fiscal-year third quarter were $615 million, down 14 percent from the prior-year period. The company posted an operating loss of $180 million, which included a non-cash goodwill impairment charge, estimated to be $211 million.
Newark, Calif. — Logitech International announced Bracken P. Darrell has become CEO of the company.
He succeeds Guerrino De Luca, who remains chairman of the board. The move was previously planned as part of an “executive leadership transition” when Darrell joined the company in April 2012.
Newark, Calif. — Logitech International said sales were down for its fiscal second quarter, ended Sept. 30, but operating income and net income were up.
Sales for the quarter were $548 million, down 7 percent from $589 million in the prior-year period. Excluding the unfavorable impact of exchange rates, sales were down 4 percent compared with the same quarter in the prior year, Logitech said.
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