Google TV proves to be a flop for Logitech, with returns for its Revue "higher than the very modest sales", according to Logitech's Q1 2011 earnings.
Logitech's Q1 2011 net losses total -$30m-- in comparison to Q1 2010's $20m profits.
The company's EMEA sales show losses of 14% Y-o-Y, due to "sustained weakness in the region" dampening customers' spending. Meanwhile its WW sales remain flat.
In hopes to improve Revue sales, Logitech will shoulder $34m in one-time charges in order to slash its price from $250 to $99-- a move commentors say could be too little, too late.
In the wake of such news Logitech' CEO Gerald Quindlen resigns. Chairman Guerrino De Luca (who headed the company in 1998-2008) will replace him until the company finds a permanent replacement.
