Logitech International SA (USA)(NASDAQ:LOGI) has been growing since Bracken Darrell took over its leadership as the CEO four years ago. The company has been in good hands, which is notable from its NASDAQ Stock that has quadrupled on robust sales. Apparently, its products complement those of its competitors the likes of Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT) but nonetheless, it has still retained its name in the market.
But Logitech has a new strategy in waiting
Darrell is plotting on a new move that is likely to outdo the heavyweights. He believes that the market is still not fully tapped despite the competition. Thus he is seeking to embrace profitable niches that will not necessarily result into displeasure among industry leaders. His goal is to have TVs, appliances and voice-controlled devices tied together.
The new strategy may not be dramatic but addressing the big giants in the market, Darrell insists, “There’s no way these big players are going to want to be in every little puddle around their operating systems. We’ve always been in categories where the big players are.”
It is likely that the new strategy will pick up very fast given that Logitech’s UE Boom speakers understand Apple’s Siri and Google Now. On the other hand, the company’s keyboards, wireless mice, and speakers are up to speed with the trends in the market.
Logitech is hitting back at companies its makes accessories
Logitech’s products are primarily used by its rivals. For example, the company’s remotes employ Amazon’s Alexa to control TVs. So it is worth laughing that Logitech is somewhat taking its partners head on. Further plans by the company, which has a projection of reaching $2.2 billion in revenue this year is to enter into the voice-activated device sector.
Apparently, Logitech uses just about $150 million annually for research and development. This is way below the $12 billion and the $14 billion spent by Microsoft and Alphabet Inc (NASDAQ:GOOGL) Google respectively. To keep his new strategy intact, Darrell says he will be compressing profits from his PC mouse and keyboard business, which makes not less than US$1 billion in a year. Clearly, Darrell is set to grow even higher the company’s NASDAQ Stock.