Logitech says not betting on holiday boom
Credit: Reuters (www.reuters.com)
By Tarmo Virki, European Technology Correspondent
(Reuters) - Logitech, the world's top computer mouse maker, does not expect a large sales pickup in the crucial holiday period, as the hoped for recovery has not fully materialized, its chief financial officer said.
"We don't fundamentally assume a strong pickup in holiday sales," Erik Bardman told a Morgan Stanley TMT Conference in Barcelona on Thursday, added that the demand environment was "absolutely better" than a year ago.
Electronic manufacturers have struggled to gauge demand this year as early hopes of a strong uptick in consumer demand and a PC refresh cycle in businesses have fizzled out.
As consumer demand started to lose steam in September and slowed further in October, supplies of several consumer electronics products have built up.
Bardman said inventory of Logitech's products -- which include also speakers, webcams and keyboards -- in the sales channel was at a healthy level.
Last month Logitech hiked its revenue outlook to include sales of products for Google TV service -- the $300 set-top box, a keyboard controller and a video calling device.
Bardman said it was "too early to tell" whether the service was successful.
Google TV, which became available this month in the United States, lets consumers access Web content on their television screens.
Credit: Reuters (www.reuters.com)
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