Logitech CEO named divisions with potential revenue growth of up to $ 1 billion

Logitech CEO named divisions with potential revenue growth of up to $ 1 billion

Looking beyond cycles to long term investment decisions. By: Bhavesh V. “Bob” Patel

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The 12th Annual GPCA Forum – Day 1\n\nLooking beyond cycles to long term investment decisions\nBhavesh V. (Bob) Patel, CEO and Chairman, Management Board, LyondellBasell

Logitech CEO named divisions with potential revenue growth of up to $ 1 billion

Logitech CEO Bracken Darrell told CNBC that three of the company’s nine divisions have the potential to increase revenues to $ 1 billion in the future..

In particular, we are talking about the sale of keyboards, mice, solutions for video conferencing, as well as the sale of gaming devices..

Logitech CEO names divisions with potential revenue growth of up to $ 1 billion

At the same time, the head of Logitech did not specify the time frame for which the divisions will achieve the announced results..

According to the firm’s latest financial statement, Gaming Group Logitech received $ 648 million in net sales for 2019 year, and the video collaboration division earned $ 260 million. Both markets were the fastest growing among Logitech businesses, with 32% and 42% yoy volume.

It is known that the company’s headquarters are located in Switzerland and is registered on the Nasdaq. As of Tuesday, Logitech shares in the US are up 23.9% this year to close at $ 38.76.

Regarding Logitech’s gaming market, Bracken Darrell told CNBC that he likes to think of him as «like Nike or Adidas in the esports world». That is, the company produces gaming equipment for both professional and casual players, which expands the market coverage..

«We have a great engineering team, a great design team. We create, we create, we create», – said the CEO of the firm’s organic growth prospects. Besides,   it was announced that the company is considering mergers and acquisitions to differentiate Logitech.