CEO expects spending by business clients to pick up Says component bottlenecks in China will ease Says long term drivers like hybrid working still intact Jan 24 (Reuters) – Logitech International (LOGN.S) said on Tuesday it expects the downturn in spending by business customers which hit its third quarter sales to be temporary, after the computer accessories maker reported a sharp drop in sales and profit. The maker of computer mice, keyboards and video conferencing equipment said its sales fell 22% in the three months to the end of December, confirming its preliminary results . Chief Executive Bracken Darrell said the downturn reflected the more difficult global economic situation and expected spending to pick up again. "This is temporary and will eventually come back," Darrell told Reuters in an interview. "I can’t say when, but growth will continue. "At the end of the day, this is part of the cycle. We’ve had a long strong growth cycle and now we’re in a cycle of adjustment," he said. Latest Updates The Swiss-U.S. company said consumers had also spent less during the quarter and concentrated their purchases on weeks when sales promotions took place. Darrell declined to say what he thought […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
