Logitech: The Cool Kids Call Me Logi

8 Jul 2015 | Author: | No comments yet »

Earnings Surprise in Focus: Logitech International S.A. (NASDAQ:LOGI).

ZURICH – Logitech International SA is rebooting its corporate identity as the company moves away from a reliance on computer peripherals to focus on products that piggyback on mobile computing popularized by Apple Inc. and Samsung Electronics Co.An earnings surprise is the calculated difference between a firm’s expected earnings numbers provided by Wall Street analysts and the actual reported numbers. Logitech, based in Lausanne, Switzerland and Newark, Calif., will start using the term Logi on new products like tablet computer keyboards and cases which will be launched later this year. The company, the world’s largest producer of computer mice, is unveiling the new brand after admitting its previous image seemed a little old fashioned. “To be Logitech in the future would seem awfully 1980s,” Logitech chief executive Bracken Darrell said in an interview. “We have entered new categories with non-PC peripherals and the old logo wasn’t as energized or as exciting as the products.” The move is the latest initiative undertaken by Mr.

The announcement was made today, though Logitech invited a number of tech publications to the company’s design studio in Ireland for an advance briefing (in keeping with our policy to not accept compensation for coverage—including travel and accommodations—Ars turned down the junket invite). Logi is, in the words of Chief Design Officer Alastair Curtis, for “future-facing stuff, it will start to define new categories and new business spaces.” In speaking with The Verge ahead of today’s announcement, Curtis set out the vision for a more cohesive company that creates products with “design as an ethos and a mentality.” Whereas previously Logitech might have done its design sequentially — meaning the industrial design, packaging, retail experience, and software were all done as separate steps — the new Logitech is going to design “the whole experience” of buying and owning one of its products as one. And if his emphasis on bold colors looks familiar, that will be because Logitech’s CDO was the head of design at Nokia before taking up his current post in July of 2013.

Net profit has nearly doubled in the 12 months to March 31 to $135 million while the company’s share price has risen roughly 20% in the last 12 months. Over the course of the past two years, he has been putting together a proper design team, staffing up with other former Nokians as well as people with experience at Nike, Samsung, BlackBerry, and other well known brands.

Analysts have said Logitech lost its way in recent years, with products which no longer stood out from competitors, while the company was also slow to produce products for tablet computers. Sell-side brokerages are expecting the company to report earnings of $0.08 per share, according to the 1 covering analysts that were polled by Zacks Research. All of this sounds rather ill-defined and marketing-heavy for now, but Logitech says it’ll soon start introducing the products that will define its Logi brand and the conceit inherent in dropping the “tech” from the company’s full name.

Expect bold colors and simple designs to make their mark across Logitech.com, social media, on packaging and in-store displays over the coming year. “We’ve been reinventing Logitech, creating products that strive to blend advanced technology and design to bring you amazing experiences,” said Bracken Darrell, Logitech president and CEO. “We’ve built a world-class design team, led by chief designer Alastair Curtis. Logitech remains the proper company name, and according to Curtis, “whether we as a company completely transition to Logi over the next two or three years is yet to be seen.” Also unchanged is Logitech’s core business, which consists of making PC peripherals, gaming gear bearing the Logitech G name, and audio equipment under the subsidiary Ultimate Ears brand. Darrell hopes the rebrand will help Logitech increase sales and its ability to have higher prices for its products, although this ultimately depended upon the products being produced.

The new Logi label will be attached to the company’s more experimental and futuristic projects, which Curtis says will include products for the Internet of Things, both “in the home and automotive space.” Although Logitech International will remain the company’s official name, new products produced this year will feature the Logi branding, which was produced by London-based agency Design Studio. More from WSJ.D: And make sure to visit WSJ.D for all of our news, personal tech coverage, analysis and more, and add our XML feed to your favorite reader. Over 30 years ago Logitech started connecting people through computers, and now it’s designing products that bring people together through music, gaming, video and computing. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).

The personal peripherals segment encompasses the design, manufacturing and marketing of peripherals for personal computers (PCs) and other digital platforms. Find Logitech at www.logitech.com, the company blog or @Logitech. 2015 Logitech, Logicool, Logi and other Logitech marks are owned by Logitech and may be registered.

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