Logitech International's CEO Presents At 40th Annual J.P. Morgan Technology, Media & Telecom Conference (Transcript)

We also have a business business. We’ve made an acquisition some time ago of a company called LifeSize, which is a player in the video conferencing game and we do have a Logitech business business made up of Logitech products like mice, keyboards, headsets and webcams that are operating the UC space and the enterprise, as well.

Paul Coster - J.P. Morgan

Okay, so, it’s already been a very interesting time for Logitech. I mean for ten years (inaudible) right, you clearly had your finger on the pulse of the PC area. You grew dramatically and didn’t do a thing wrong. And, then, you decided to kind of diversify a little bit out of the PC area into other segments, into digital TVs for instance and then to the enterprise, (inaudible) new CEO and my sense is that you may have lost a little bit of…maybe distracted from the core business, which was bringing fabulous products to market.

Is that what happened? Perhaps you could just go through that. (inaudible) it comes from (inaudible), because we’re now going through another transition and why is this one going to be successful?

Guerrino De Luca



Absolutely. So, what happened (inaudible) was much less the desire to diversify (inaudible). It’s sort of a misplacement of the value of progress, in particular, (inaudible) products and the success of the company. We make products that nobody really needs, we make products people want and if our products are not wanted, people don’t buy them. Okay?

And we had missed a little bit of that sense and over the last (inaudible) years our portfolio (inaudible) across the PC space, across the tablet space, across any space, we made (inaudible) mistakes that happened in the history of the company.

Our initiative with Google TV was a mistake on our side, although the platform was very promising, but we just (inaudible) as if it was sliced bread and it wasn’t. But those happened and (inaudible) at least we are very confident that (inaudible) and wants to grow.

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