Logitech profit drops on slump in demand for computer accessories

LONG TERM PLAN: Logitech said it plans to exit its original equipment manufacturing (OEM) business and reorganize the Lifesize segment to sharpen focus on its cloud-based offering.

Swiss-American gadget maker Logitech International SA said its quarterly profit fell 33% as the demand for new music and videogame add-ons was not enough to offset falling demand for its computer accessories. 

The Lausanne-based company reported a non-GAAP operating profit of US$14.5mil (RM52.42mil) for the fourth quarter ended March 31, compared with US$21.8mil (RM78.82mil) a year earlier.