Logitech sales slump after health-crisis boom

STORY: Logitech's health-crisis boom is fading away, with third-quarter sales falling 22%.

The tech firm said Tuesday (January 24) that sales over the three months to the end of December dropped to $1.27 billion.

The Swiss-American firm makes computer mice, keyboards and webcams.

It saw strong demand for its home office products and computer gaming devices during the health crisis.

But that has fallen away as countries lift restrictions and high inflation drives up costs.

Logitech was also hit by the challenge of getting components for its Chinese factories as cities shut down to tackle the health crisis.

The firm has kept its outlook for the financial year in 2023.

It still expects full-year sales to drop up to 15% over the 12 months to the end of March.

But Chief Executive Bracken Darrell said he expected demand to recover as the mix of home and office working becomes the new norm.

Shares in the firm were up just under 2% after the report.