In an earnings name, the corporate mentioned it witnessed a rise in internet gross sales accounting to $709.2 million for the fourth fiscal quarter, as in comparison with $624.3 million it generated final yr.
“We have delivered five consecutive years at or near double-digit growth, and Logitech’s products have never been more relevant,” mentioned Logitech president and CEO Bracken Darrell in a press release. “Video conferencing, working remotely, creating and streaming content, and gaming are long-term secular trends driving our business. The pandemic hasn’t changed these trends: it has accelerated them.”
According to the corporate, the gross sales of webcams elevated 34 p.c within the fourth quarter and 8 p.c within the fiscal yr 2020, particularly in America and the Asia Pacific. The firm says the speedy progress is because of distant work, distance studying, and telemedicine adoption.
Also, as you may be conscious, individuals have turned to video games to maintain themselves entertained throughout the pandemic. As a end result, Logitech has seen an elevated curiosity in its peripheral gadgets lineups comparable to laptop mice and keyboards as effectively.
“We finished a solid year with a very strong fourth quarter. The COVID-19 pandemic introduces operational challenges, yet our ability to execute and strong long-term growth drivers give us the confidence to maintain our financial outlook for Fiscal Year 2021.”, Logitech chief monetary officer Nate Olmstead added.