Logitech’s quarterly revenue nearly doubled due to home working and gaming

Logitech posted sales in the last three months of 2020 that were 85 percent higher than a year earlier. The accessory maker mainly owes this to the trend of working from home and distance education. The company also sold more gaming products.

PC webcam revenue for the quarter was $132 million. That is 309 percent more than in the same quarter a year earlier, when the corona pandemic had not yet struck. Growth rates are also strong in the Video Collaboration category, which includes Logitech’s business video conferencing hardware. That category accounted for quarterly revenue of $293 million, an increase of 218 percent.

The Tablet & Accessories category saw the largest growth at 342 percent. In that category, Logitech achieved revenue of $138 million. According to the manufacturer, this is due to orders from educational institutions. This concerns accessories for tablets, such as covers and keyboards.

Logitech also experienced significant growth in other product categories. The company made most of its revenue from gaming products, at $436 million, up 78 percent from last year. In the Audio & Wearables category, revenue rose 153 percent to $153 million.

Logitech’s quarterly revenue came in at $1.67 billion, 85 percent more than the comparable quarter a year earlier. The figures refer to the last three months of 2020. The global corona pandemic has revived during that period, resulting in measures such as working from home in many countries.