Logitech’s CEO Bracken Darrell said he is not ready to walk away from the personal computer business just yet, even though faster-growing accessory markets are making the outfit a pile of dosh.
The company recently introduced a home control device it calls Pop switch which can act as a remote control for lights, door locks, speakers, thermostats and other household devices.
Darrel Darrell told investors at Morgan Stanley European Tech Media and Telecom conference that everything the company is doing today is about creating cloud-based peripherals.
“I keep the PC business in a dark space in my mind. The rest of the business has just been super exciting.”
Committing PCs to a mental underworld has helped Darrell transform his company from one which was in steady decline. Logitech is now on track to report steady sales growth in constant currencies of around 10 percent and improving operating margins around the same level.
But Darrell said that Logitech was now holding its own in the PC peripherals business which really has no right to grow.
PC accessories like mice and keyboards still accounted for nearly half of net sales of $564 million for the quarter ended in September.
Logitech is also gearing up to build virtual reality or augmented reality gadgets. In a throwback, its product developers are reusing technology from a pointing device the company developed in the early 1990s for an earlier generation of virtual reality systems that went nowhere.