Logitech cuts 2012 targets on economic uncertainty

Sep 22, 2011

Swiss computer peripherals maker Logitech on Thursday cut its 2012 full-year targets amid economic uncertainty in industrialised states.

The IT giant said it now expects revenues to reach $2.4 billion (1.8 billion euros) for the fiscal year ending March 31, 2012, down slightly from the $2.5 billion predicted earlier.

meanwhile, is expected to dip to $90 million from at least $143 million in an earlier forecast.

"I am disappointed that our revised fiscal 2012 outlook is not higher, but we now have a thorough understanding of what needs to be fixed," said Guerrino De Luca, chairman.

"Our strategy remains unchanged. I expect the initiatives we have put in place to result in reinvigorated product offerings and improved execution in our sales and marketing organization as we progress through fiscal 2012 and into fiscal 2013," he added.

Explore further: Amazon as an adult: Two decades of online shopping

Related Stories

RIM down over 21 percent on Wall Street

Jun 17, 2011

Shares in Research in Motion plunged on Wall Street Friday after the BlackBerry maker lowered its outlook for the year and said it would be cutting jobs.

BlackBerry maker slashes short-term sales forecast

Apr 28, 2011

(AP) -- Research In Motion Ltd., the maker of the BlackBerry, on Thursday cut its sales and earnings forecasts for the current quarter, saying it's shipping fewer and cheaper phones than it had expected.

Sharp annual profit more than quadruples

Apr 27, 2011

(AP) -- Sharp said its annual profit more than quadrupled due to brisk demand for liquid crystal display screens but warned the earthquake and tsunami that hit Japan last month will have a "broad" impact on its business.

Recommended for you

Is big data still big news?

10 hours ago

People talk about 'data being the new oil', a natural resource that companies need to exploit and refine. But is this really true or are we in the realm of hype? Mohamed Zaki explains that, while many companies ...

Amazon pushes Prime service with day of deals

Jul 06, 2015

Amazon is trying to lure more subscribers to its $99 Prime loyalty program by pushing a day of discounts it calls "Prime Day" during the sleepier summer shopping season.

Mexico City proposes regulations for Uber

Jul 04, 2015

Mexico City is proposing regulations that would allow Uber and other smartphone-based ride-sharing apps to operate, while requiring drivers and cars to be registered, the city's Office of Legal and Legislative Studies said ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.