January 23, 2013 / 7:20 AM / 5 years ago

UPDATE 1-Logitech flags charge for video conference unit

* To make $211 mln charge in Q3

* Company reports quarterly results later on Wednesday

* Bought video communications firm LifeSize 2009

ZURICH, Jan 23 (Reuters) - Logitech, the no. 1 maker of computer mice, is writing down $211 million against third-quarter earnings for the drag on earnings from its underperforming video conferencing unit.

Logitech’s ambitions for video communication were built on the acquisition of LifeSize Communications for $405 million in 2009 but its conferencing operation has not produced the growth expected amid an industry slowdown in recent quarters.

Logitech rose spectacularly in the 1980s by bringing to market the first modern computer mouse followed by other computer accessories such as keyboards, cameras and speakers.

In recent years it has struggled to adapt to a market increasingly dominated by touch-screen tablets and smartphones with built-in accessories which do not need mice to work

Former Whirlpool executive Bracken Darrell became chief executive in January in a bid to kickstart growth.

Logitech reports full earnings for the quarter later on Wednesday.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below