Q2 sales top US$1 billion for first time.

 

Logitech has exceeded US$1 billion in quarterly sales for the first time as demand for the company’s tech and gaming products surge due to the “new reality” in the home and workplace.

 

The Swiss company, which is co-based in Silicon Valley in California, reported Q2 sales of US$1.2 billion, up 75 per cent on the previous year.

 

Operating income grew 372 per cent to US$322 million, compared to US$68 million in the same quarter a year ago.

 

Bracken Darrell, Logitech president and chief executive officer, said: “The growth trends that drive our business have accelerated as society adjusts to its new reality. The organization leaders I speak to envision people increasingly working from multiple locations, a hybrid work culture that is emerging as the norm. And at home, the rise of gaming as a spectator and participant sport continues with no end in sight. Our products are essential to helping customers work, play and create wherever they are.”

 

Most of the company’s key categories recorded strong growth with video collaboration up 160 per cent, PC peripherals up 57 per cent and gaming up 84 per cent.

 

Sales of conference room products almost doubled while the webcam category increased by more than 250 per cent to US$102 million.

 

Logitech’s product range also includes keyboards and combos, wearables, tablets and mobile speakers.