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    Home » Sections » Consumer electronics » Logitech’s gadgets business is booming amid the pandemic

    Logitech’s gadgets business is booming amid the pandemic

    By Agency Staff27 July 2021
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    A person uses an advanced Logitech computer mouse in this file photograph

    Computer peripherals maker Logitech said on Tuesday it was seeing no let-up in demand from stay-at-home workers, after reporting higher operating income and sales at the start of its 2022 business year.

    Sales rose 66% to US$1.31-billion during the three months to end-June, up from $792-million a year earlier. Non-Gaap operating income doubled to $235-million in the first quarter.

    Trends like working from home and the rise of online gaming continued to fuel Logitech’s performance as it lapped tough comparisons with last year’s pandemic-boosted sales.

    The unprecedented surge in demand made Logitech raise its guidance five times while its stock price gained 87% in 2020

    The Swiss-American company, which makes computer keyboards, mice and webcams, has been boosted in recent months as more people worked from home during the Covid-19 pandemic.

    The unprecedented surge in demand made Logitech raise its guidance five times while its stock price gained 87% in 2020.

    From September, Logitech will replace Swatch Group in the Swiss blue-chip SMI index, bourse operator SIX said earlier this month.

    On Tuesday, Logitech kept its guidance for the year to the end of March 2022, saying it still expects non-Gaap operating income of $800-million to $850-million. It still expects sales growth in constant currency to be roughly in line with the previous financial year — up to 5% higher or lower.  — Reported by Akriti Sharma and John Revill, (c) 2021 Reuters

    Logitech
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