Logitech’s revenue up 14 percent thanks to high demand for webcams and gaming

Logitech achieved 14 percent more revenue in the last fiscal quarter of 2020 than a year earlier. The company mainly explains this increase due to a higher demand for PC accessories, especially for webcams and game accessories.

According to Logitech’s latest quarterly figures, revenue rose to $709 million in the last fiscal quarter. The company writes that this quarter already started well, but that it accelerated as people were advised or obliged to work from home because of the corona virus. As a result, they had to purchase additional webcams, mice and keyboards, for example. For example, the revenue from webcams increased by 32 percent and the revenue from what Logitech calls Video Collaboration, by 60 percent. Gaming is the most important branch for Logitech, with a turnover of $149 million. Profits rose 23 percent to $79 million.

For the entire fiscal year of 2020, Logitech says it was a record year, with revenue of $2.98 billion, 7 percent more than in 2019. Earnings rose 10 percent to $387 million. For 2021, Logitech expects a year comparable to 2020 in terms of profits.