Thanks to telecommuting and distance schooling, computer hardware company Logitech tripled its quarterly profit

0
32



The health crisis can also have positive consequences on the economy. This is particularly the case for the Swiss group Logitech, specializing in computer accessories and video games, which more than tripled its quarterly profit with teleworking and distance learning. The latter have boosted demand for webcams and accessories for tablets, the group announced Tuesday, January 19 in a statement.

The figures speak for themselves, to say the least. For the third quarter of its 2020-2021 fiscal year, ended December 31, Logitech’s net profit climbed to € 315.8 million from € 97 million a year earlier. Its turnover jumped 85% over one year to reach 1.3 billion euros, clearly exceeding forecasts.

Advertisement

Logitech had already seen its sales explode in the first half of the year in the face of soaring demand for webcams, video conferencing products and gaming accessories with the first lockdown. Over the past quarter, which includes the holiday season, sales of webcams quadrupled to € 109 million while sales of video conferencing products tripled to € 242 million.

LEAVE A REPLY

Please enter your comment!
Please enter your name here