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Logitech International S.A. is a renowned Swiss-American multinational company specializing in the design, manufacture, and marketing of computer peripherals and software. Established in 1981 and headquartered in both Lausanne, Switzerland, and Newark, California, Logitech has grown to become a leading name in the tech industry.
The company offers a wide array of products, including mice, keyboards, webcams, conference room cameras, headsets, and music-related items such as wireless speakers. Logitech's commitment to innovation and quality has earned it a significant share of the global market for computer accessories.
Recent developments highlight Logitech's dedication to sustainability and environmental responsibility. In April 2024, Logitech announced its Design for Sustainability (DfS) initiative, focusing on creating products with a reduced environmental impact. This includes experimenting with materials like cork, which is lightweight, heat-resistant, and impermeable. Logitech's innovative culture aims to replace traditional plastics with more sustainable alternatives.
Notably, Logitech has made strides in using post-consumer recycled plastic, which they term 'Next Life plastic.' This initiative is part of their broader strategy to minimize the carbon footprint and promote a circular economy. In 2022, Logitech successfully eliminated 500 tons of single-use plastic from its packaging, a testament to its ongoing commitment to environmental sustainability.
Logitech continues to push the boundaries of design and technology, fostering a workplace environment that encourages innovation and sustainability. The company's dedication to these principles not only helps protect the planet but also positions it as a leader in the tech industry.
Logitech International (NASDAQ: LOGI) reported strong Q1 FY2025 results, with net sales growing 12% to $1.1 billion. GAAP operating income surged 96% to $153 million, while non-GAAP operating income rose 67% to $182 million. GAAP EPS increased 136% to $0.92, and non-GAAP EPS grew 74% to $1.13. The company experienced growth across all regions and key categories.
Based on these results, Logitech raised its FY2025 outlook. The new forecast projects sales of $4.34 - $4.43 billion (1-3% growth) and non-GAAP operating income of $700 - $730 million (0-4% growth). CEO Hanneke Faber attributed the strong performance to disciplined execution and high-quality, broad-based growth.
Logitech International (NASDAQ: LOGI) has released its FY24 Impact Report, highlighting significant progress in carbon reduction and sustainability efforts. The company has reduced its Scope 1 and 2 emissions by 58% since 2019 and Scope 3 emissions by 24% compared to 2021. Through its Designing for Sustainability (DfS) initiative, Logitech achieved a reduction of nearly 139,000 tons CO2e across its portfolio and operations in 2023.
Key achievements include:
- 75% of products now use recycled plastics
- 66% of products are carbon labeled
- 66 product lines use low-carbon aluminum
- 94% of electricity comes from renewable sources
Logitech has also made strides in equity and inclusion, achieving gender parity in its leadership team and 40% female representation on its Board of Directors.
Last month, Logitech's female leaders made a significant impact at the Dublin Tech Summit, a key European tech event. Anne Carrigy, Logitech's CIO, emphasized the role of AI in augmenting human capabilities during a panel discussion. Carrigy highlighted practical AI applications like Logitech's RightSight, which enhance productivity in remote meetings. She stressed AI's potential in democratizing digital access while maintaining human-centric values. Additionally, Emerald de Leeuw, Head of Privacy and AI Governance, discussed AI ethics, focusing on data protection and ethical standards. Logitech's participation underscores its commitment to ethical AI and human-centric technology.
Logitech G has introduced the G309 LIGHTSPEED Wireless Gaming Mouse, targeting gamers of all levels with advanced features and technologies. Priced at $79.99 and available from July 9, 2024, the mouse features dual-wireless connectivity, precision tracking, and the efficient HERO 25K sensor, offering over 300 hours of continuous gameplay with a 1 ms report rate on one AA battery, and 600 hours in Bluetooth mode. The mouse weighs 86 grams with the battery and 68 grams without it when using the POWERPLAY wireless charging system. The G309 also incorporates LIGHTSPEED technology for faster performance than wired mice and LIGHTFORCE hybrid optical-mechanical switches for improved actuation and response.
Logitech International (LOGI) has announced the release date for its first quarter financial results for Fiscal Year 2025. The results will be disclosed on Monday, July 22, 2024, at 6:00 p.m. Pacific Daylight Time and on Tuesday, July 23, 2024, at 3:00 a.m. Central European Summer Time.
A video conference to discuss these outcomes is scheduled for Tuesday, July 23, 2024, at 5:30 a.m. Pacific Daylight Time and 2:30 p.m. Central European Summer Time. Interested parties can access a livestream of the event on Logitech's corporate website at http://ir.logitech.com.
Logitech International announced significant changes to its board of directors, proposing the election of new members at the upcoming AGM on September 4, 2024. The nominees include Donald Allan, CEO of Stanley Black & Decker, Owen Mahoney, former CEO of Nexon, and Hanneke Faber, current CEO of Logitech. Patrick Aebischer will leave the board this fall due to tenure limits, and Wendy Becker, the current chairperson, will not seek reelection at the 2025 AGM. A committee, chaired by Chris Jones, will recommend Becker's successor. These changes aim to strengthen Logitech's leadership and strategic direction.
Ultimate Ears, a Logitech brand (NASDAQ: LOGI), has launched the EVERBOOM, a durable, portable speaker with 360° sound. The EVERBOOM features an IP67 rating, making it waterproof, dustproof, and floatable with a 55-meter Bluetooth range and 20 hours of playtime. It also has an Outdoor Boost button for enhanced bass, and an NFC feature for easy Bluetooth connection. Additionally, Ultimate Ears has updated its WONDERBOOM 4, BOOM 4, and MEGABOOM 4 speakers with recycled materials, enhanced sound, new colors, and USB-C charging ports. These products will be available in North America starting June 26, 2024, with prices ranging from $99.99 to $249.99.
Logitech G has announced the G515 LIGHTSPEED TKL Wireless Gaming Keyboard, combining advanced technologies and high-performance features in a sleek, low-profile design. At just 22 mm high, the G515 offers a comfortable and efficient typing experience with low-profile switches that activate at 1.3mm and travel 3.2mm, enhancing gaming performance.
Key features include the new KEYCONTROL technology, which allows each key to perform up to 15 different actions, LIGHTSYNC RGB lighting with 16.8M colors, and versatile tri-mode connectivity options (LIGHTSPEED wireless, Bluetooth, and USB-C wired). The G515 offers up to 36 hours of continuous gameplay and is available in Black and White for $139 (wireless) and $99 (wired).
Logitech's Chief Legal Officer, Samantha Harnett, highlights the company's commitment to LGBTQ allyship in a recent press release. The PR emphasizes Logitech's partnership with GLAAD to promote LGBTQ representation in gaming. According to GLAAD's inaugural Gaming Report, sponsored by Logitech, 20% of gamers identify as LGBTQ, yet less than 2% of gaming content includes LGBTQ stories. Logitech actively supports LGBTQ rights by advocating for marriage equality and opposing discriminatory laws. This commitment extends to standing against extremist threats towards companies celebrating Pride. As Harnett notes, global LGBTQ rights remain under threat, with over 65 countries criminalizing LGBTQ relationships and a surge in discriminatory laws in the US. Logitech's actions demonstrate their dedication to equality and active allyship.
Logitech has introduced the Keys-To-Go 2, an ultra-portable wireless keyboard designed for tablets, mobile devices, and laptops. It features a built-in cover for protection and a slim design for easy portability. The keyboard is multi-OS compatible, allowing seamless work across various devices. It connects via Bluetooth and supports up to three devices simultaneously. Available in Lilac, Pale Grey, and Graphite, it offers a comfortable typing experience with scissor keys. The product is sustainably designed, using recycled materials. It will be available globally in June 2024 for $79.99.
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