Logitech International, a leading company in the technology industry, is planning to drive faster growth in the future by expanding its customer base and focusing on artificial intelligence. Recently, Logitech achieved its first quarterly sales increase after facing challenges due to the pandemic. CEO Hanneke Faber stated that the company aims to achieve sales growth of 0-2% over the next 12 months, with even faster growth anticipated in the following years.
Faber, who took over as CEO in December 2023, emphasized the goal of increasing sales by prompting customers to purchase premium versions of their products. The company primarily targeted office workers but now plans to broaden its consumer base to include individuals in retail, education, construction, and manufacturing sectors. Logitech sees opportunities for growth in areas like education by creating products suitable for children and expanding their presence in the gaming market by developing more products for console and mobile phone players.
The shift towards hybrid work post-pandemic is a trend that is likely to persist. Faber mentioned that acquisitions could be a possibility given Logitech’s significant cash reserve of $1.5 billion but emphasized the importance of making strategic decisions rather than rushing into deals. The company also plans to introduce more products integrated with artificial intelligence to enhance user experience, such as quick access to generative AI systems like ChatGPT and AI-equipped video conferencing software that can focus on the speaker while filtering out background noise.