# Logitech quarterly sales fall 22% as slowdown fears bite Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-01-24 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Logitech International Reports 22% Sales Drop in Q3 Meta Description: Logitech reports 22% drop in Q3 sales as business customers delay equipment purchases. Strong demand for home office & gaming products during lockdowns URL: https://financedigest.com/logitech-quarterly-sales-fall-22-as-slowdown-fears-bitehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-01-24t021929z3lynxmpej0n01drtroptp4logitech-intl-results-1736814551770-compressed.jpg) (Reuters) -Computer peripherals maker Logitech International said on Tuesday its third-quarter sales fell 22%, confirming its preliminary results which showed that business customers had put the brakes on buying new equipment amid slowdown concerns. The company saw strong demand for its home office products and computer gaming devices during COVID-19 lockdowns, but the momentum has been fading as countries lift the curbs and as high inflation drives up costs and refrains consumers from spending. The Swiss-American maker of computer mice, keyboards and webcams has also been hit by difficulty in getting components for its factories in China, as cities shut down to tackle the resurgence of COVID-19 in the country. Logitech’s [sales in the three months to December-end fell to $1.27 billion](https://www.financedigest.com/allianz-puts-n26-stake-up-for-sale-at-3-billion-valuation-ft.html "Allianz puts N26 stake up for sale at billion valuation – FT"). The company’s preliminary figures published on Jan. 11 showed its [sales had fallen to between $1.26 and 1.27 billion](https://www.financedigest.com/automotive-body-in-white-sales-at-3-4-cagr-over-the-forecast-period-from-2021-to-2031-reaching-us-59-7-billion-in-2021.html "Automotive Body in White sales at 3.4% CAGR over the forecast period from 2021 to 2031, reaching US$ 59.7 billion in 2021"). Its non-GAAP operating income fell 32% to $204 million from $302 million a year earlier. It had [previously reported preliminary operating](https://www.financedigest.com/glastons-interim-report-1-january-31-march-2018-orders-received-grew-23-comparable-operating-profit-at-previous-years-level.html "Glaston’s Interim Report 1 January – 31 March 2018: Orders received grew 23%, comparable operating profit at previous year’s level") income in the range of $198 to $203 million. These quarterly results reflect the current challenging macroeconomic conditions, including currency exchange [rates and inflation](https://www.financedigest.com/german-inflation-rate-to-ease-over-course-of-2023-econ-minister.html "German inflation rate to ease over course of 2023 – econ minister"), as well as lower enterprise and consumer spending,” Chief Executive Officer Bracken Darrell said. The company also retained its [outlook for the financial year](https://www.financedigest.com/2017-cfo-outlook-top-priorities-as-new-year-gets-underway.html "2017 CFO Outlook: Top Priorities as New Year Gets Underway") 2023. It still expects full-year [sales to drop 13% to 15% in the 12 months to the end of March](https://www.financedigest.com/uk-new-car-sales-rise-17-in-march-best-ever-month-for-evs.html "UK new car sales rise 17% in March; best ever month for EVs"), and generate non-GAAP operating income of $550 to $600 million. (Reporting by John Revill and Gokul Pisharody; editing by Uttaresh.V) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---