Logitech OZ MD Quits
Fry, who joined Logitech from the UK denied rumours that he was quitting the Company.
He said that “To the contrary, I am taking up a new role helping other subsidiaries to put into place the systems and marketing that have delivered the Australian subsidiary double digit growth”
“Logitech Australia is in a strong position, we have delivered growth across several categories”, he said.
Logitech who is one of several Companies being investigated by the Australian Taxation Office over the payment of taxes by overseas based Companies, has had a lot of success in the wireless market with new UE ears wireless speakers, wireless keyboards and mouse kits and a new generation of iPad and Android covers that come with a keyboard.
Fry said “The wireless audio market has got brutally competitive but despite this we have grown our share with the UE product range. This time last year there were 29 brands and 69 SKU’s this year running into Xmas there are 79 brands and 229 SKU’s running into Xmas”.
Known for their keyboard and mouse accessories Logitech is still a leader with Microsoft in this market.
Their K400R keyboard which holds 25% of the keyboard market and sells for $69, is still a market leader.
Currently the Swiss based Company is #1 in 8 of the 12 categories that they compete in.
Fry added “Logitech Australia has the highest market share of any other Logitech subsidiaries and what we are now doing is taking the knowledge we have in Australia into other subsidiaries. The market is changing, retailers are changing the way they go to market and are now delivering new in-store merchandising, new packaging and new training programs that are delivering excellent results”.
In 2015 Logitech is set to release several new products designed to be attached to wireless networks. Fry said that Logitech was already well advanced in the Internet of Things market which is set to be a hot topic at this year’s CES show.
Fry said that Logitech’s Harmony Home product range was still selling despite several TV’s and attached products such as Blu ray and home theatre kits now being accessible via a tablet or smartphone.
Unable to provide local sales figures Fry also refused to talk about the background to Logitech finding itself under scrutiny by the U.S. Securities Exchange Commission.
Recently Logitech said it would remove some income from the last quarter of 2011 and move it into the first three months of 2012.
“The restatement is not expected to materially impact fiscal years 2013 and 2014,” Logitech said in a statement.
The firm said the move would not affect its cash statements in any year.
“We expect that the scrutinized accounting practice will no longer be an issue in a few weeks, with few consequences on reported earnings, in particular not because of any financial penalty,” Zuercher Kantonalbank analyst Andreas Mueller said.