Logitech was founded in 1981 by three individuals: Daniel Borel, Pierluigi Zappacosta, and Giacomo Marini. Collectively, the group of computer scientists and engineers chose the name Logitech due to the root of the French word for software, “logiciel”. The company started as a consulting firm with contract work in publishing-related software development and hardware architecture. However, the Logitech team quickly changed paths when the computer mouse began to surface, and the birth of the computer peripherals company began. Logitech operates worldwide, with its headquarters based in Lausanne, Switzerland, and with corporate offices in both California and Taiwan.
Logitech’s business segments
In 2022, the computer peripherals producer Logitech reported a sales revenue of 5.5 billion U.S. dollars, a figure that has been rapidly increasing over the past few years. Of the total revenue generated, 1.5 billion U.S. dollars originated from its gaming segment, a part of the business that is also anticipated to grow in the upcoming years due to the rapid rise of live streamers and platforms, such as Twitch and YouTube. Other popular segments for Logitech include video collaboration, keyboards and combos, pointing devices, wearables, and PC webcams to name a few. Logitech’s breakthrough in the gaming peripherals industry is still rather recent because previously, pointing devices such as mouse products and wireless trackballs were the largest contributing segment for revenue. However, as of late, the popularity of pointing devices appears to have stayed stagnant, while the popularity of gaming devices have risen significantly.
Outlook for Logitech
Logitech benefited from the global move to the home office as many of its products support people as they work from home. For example, between 2020 and 2021 during the global pandemic, Logitech doubled its net income two-fold. Not only this, but Logitech even upped its advertising costs in 2022, as well as its research and development costs. Logitech indicates that its growth is based on a variety of opportunities such as the rise in hybrid work and the expansion of more workspaces that increase the installed base of devices. Hence, its increase in advertising and research and development goes hand in hand with the company’s model for ongoing growth.
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