Logitech International, a Swiss-U.S. company that specializes in computer mice, keyboards, and video conferencing devices, is aiming for faster growth in the future. After a decline in sales, Logitech recently posted its first quarterly increase and now aims for sales growth of 0-2% in the next 12 months, with even faster growth expected thereafter.
Chief Executive Hanneke Faber emphasized the company’s goal of attracting new consumers and encouraging existing customers to purchase premium versions of Logitech’s products like speakers and webcams. Targeting a wider audience beyond office workers, Faber highlighted opportunities in retail, education, construction, and manufacturing. Logitech aims to tap into these markets to double its total addressable market.
One specific area Logitech is focusing on is education, with plans to develop headphones suitable for children. The company also sees potential in the gaming industry by creating products for players who use consoles and mobile phones. While sales to businesses are currently challenging, Faber noted that the shift to hybrid work post-pandemic is a permanent trend. Logitech plans to introduce more AI-equipped products, such as video conferencing software that uses AI to enhance user experience.
In terms of potential acquisitions, Faber mentioned that Logitech has $1.5 billion in cash but emphasized the need to be cautious and avoid hastily rushing into deals. The company is prepared to explore strategic acquisitions in the future but remains focused on sustainable growth and innovation
