Logitech says the company can grow after the COVID-19 boom

ZURICH (Reuters) – Logitech International will grow in a post-coronavirus world, chief executive Bracken Darrell said Tuesday, as the rise of work and home play during the pandemic pushed the computer peripheral maker to its best. quarterly results.

The boom in sales of web cams, covers and keyboards for tablets used by schoolchildren and video conferencing devices for online meetings was behind an 85% increase in sales of the Swiss-US firm in the last three months of 2020.

“Without a doubt the trend of working people from home has helped us grow our business, ”Darrell told Reuters.

“When the pandemic ends and starts to wear off… you will see people working from at home and in the office, ”he added. “This is an opportunity for us to update the spaces in both locations and also to enable video in the offices.”

The strong third quarter performance led Logitech to raise its forecast for the third time in its 2021 business year, which runs through the end of March.

The keyboard, mouse and headset manufacturer expects annual sales to increase from 57% to 60%. It will provide a sales outlook for 2022 on its next investor day, which usually takes place in early March.

“I would be surprised if we had grown from 57% to 60% next year,” said Darrell, who has been CEO of Logitech since 2013. “But I’ll be very clear… we have really strong growth potential in the long run.

“There are so many video rooms to be enabled, so many people upgrading their workspaces … the games won’t slow down … and we’re in the streamer and creator business.”

Darrell said there are 1.7 million podcasters who need cameras, microphones, mice and keyboards, while chefs, makeup artists and singers also create and stream content.

He said he expects most companies to switch to a hybrid work model in the future, with staff working from at home for some days and at the office for others.

This increases the potential size of the market, with people also choosing keyboards and other products for their home office to match their decor, as well as ergonomics and performance, he added.

Reporting by John Revill; Editing by Dan Grebler