Welcome to our dedicated page for Logitech Intl S A news (Ticker: LOGI), a resource for investors and traders seeking the latest updates and insights on Logitech Intl S A stock.
Logitech International S.A. reports developments tied to its software-enabled hardware business for work, creation and gaming. News commonly covers financial results, capital allocation through share buybacks and dividends, and product introductions across keyboards, mice, webcams, conference room cameras, headsets and related accessories.
Company updates also feature the Logitech G gaming business, including gaming keyboards and performance peripherals, as well as education and productivity accessories such as Rugged Combo keyboard cases for iPad. Other recurring items include management appointments, board-approved capital actions and disclosures from Logitech's Swiss public-company structure and Nasdaq-listed registered shares.
Logitech International (SIX: LOGN, Nasdaq: LOGI) has filed a Supplement to its July 26, 2022 Proxy Statement with the U.S. Securities and Exchange Commission. This Supplement pertains to Proposal 4 regarding the Amendment of the Articles of Incorporation for creating Authorized Capital. It clarifies that the company will not issue new shares that exceed 10% of its current share capital when shareholders' subscription rights are restricted or excluded. The filing details are available on the SEC's website and Logitech's investor relations page.
Ultimate Ears, a Logitech brand, has launched the WONDERBOOM 3 portable Bluetooth speaker, featuring 100% recycled materials, enhanced Bluetooth range of 40 meters, and a 14-hour battery life. It offers waterproof and dustproof capabilities and will retail at $99.99. Additionally, the new white version of the HYPERBOOM speaker is also available, with a 24-hour battery and multiple input sources for $449.99. Both products aim to enhance music experiences while reducing carbon footprints.
Logitech has unveiled the Logitech Chorus, a cutting-edge audio solution designed specifically for Meta Quest 2. The product boasts an open-back design and custom-tuned off-ear acoustics, enhancing comfort and immersion during long gaming sessions. It integrates seamlessly with USB-C passthrough and retails at $99.99, appealing to VR gamers seeking both quality and affordability. Logitech emphasizes the Chorus's ability to provide realistic audio while maintaining user awareness of the real world, addressing feedback from developers and the gaming community.
Logitech G and Tencent Games have partnered to develop a cloud gaming handheld, set to launch later this year. This collaboration aims to merge Logitech G's hardware expertise with Tencent's software services, allowing gamers to play AAA games via cloud without needing to download them. Both companies are collaborating with Xbox Cloud Gaming and NVIDIA GeForce NOW to enhance the gaming experience. The new device will enable seamless gaming on-the-go, showcasing Logitech G's commitment to innovation and Tencent's leadership in game publishing.
Logitech International (SIX: LOGN, Nasdaq: LOGI) has filed its Quarterly Report on Form 10-Q for Q1 FY2023 with the U.S. Securities and Exchange Commission on July 28, 2022. This report provides detailed financial results and operational insights for the company's performance during the quarter. The filing is accessible via the SEC and Logitech's official websites. As a leading designer of computing and gaming products, Logitech continues to strive for innovation and customer engagement.
Logitech International (SIX: LOGN; Nasdaq: LOGI) reported Q1 FY 2023 sales of $1.16 billion, down 12% in USD and 9% in constant currency year-over-year. Notable category sales include a 4% increase in Keyboards & Combos, while Gaming sales dropped 16%. GAAP operating income fell 43% to $115 million, with GAAP EPS declining 44% to $0.61. Logitech revised its FY 2023 sales growth outlook to a decline of 8% to 4%. The board approved an increased share buyback authorization of up to $1.5 billion, following $697 million repurchased to date.
Logitech International has achieved a prestigious Platinum rating from EcoVadis, ranking in the top 1% of sustainability-rated companies. This marks an upgrade from the previous Gold rating, which placed it in the top 5%. The assessment reflects Logitech's commitment to integrating sustainability across its business practices, particularly in Environment and Labor & Human Rights. EcoVadis evaluates companies based on international sustainability standards across four themes: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement.
Ultimate Ears, a brand of Logitech (SIX: LOGN) (NASDAQ: LOGI), announced the launch of UE DROPS, the first custom wireless earbuds designed to fit each user's unique earprint. Priced at $449, these earbuds provide 22 hours of playtime, including a quick charge feature. Available in three colorways, UE DROPS promise a blend of audiophile-quality sound and unique, stylish design. The customization process utilizes an at-home FitKit for a personalized audio experience, signaling a disruptive approach to the earbuds industry.
Logitech International (SIX: LOGN, Nasdaq: LOGI) will release its first quarter fiscal year 2023 financial results on July 25, 2022. The results will be discussed during a videoconference on July 26, 2022. The event starts at 8:30 a.m. EDT and will be livestreamed on the Logitech corporate website. Logitech is committed to enhancing user experiences across various product categories, reinforcing its dedication to innovation and design.
Logitech International (SIX: LOGN, Nasdaq: LOGI) announced the election of three new board members at its annual general meeting on September 14, 2022. Christopher Jones, Frankie Ng, and Sascha Zahnd will join the board, bringing diverse expertise in product development, global services, and supply chain management. Riet Cadonau and Neil Hunt will not stand for re-election. Logitech also proposed a 10% increase in its annual cash dividend to approximately CHF 0.96 per share, subject to shareholder approval, with payment expected on September 28, 2022.