Andre Yoskowitz
26 Jan 2012 12:56
Following the company's quarterly earnings report, it was revealed that Logitech has finally sold out of the Revue set-top box, the failed Google TV experiment that caused the previous CEO to be fired.
Logitech has also taken its name of the Google TV supporter list, but says there is a chance they can return in the future.
The company took a massive loss on the boxes, being forced to drop the price from $299 to $99 after just a few months on the market. CEO Guerrino de Luca admitted the company was far too bullish on the technology when it launched the box, overinvesting at a time when it was still unclear whether the technology would be widely embraced.
Google TV allows users to stream videos and access sites and apps via their TVs using a set-top box and impressive keyboard. Media companies have mostly blocked access to their streaming sites via Google TV, however, making the service useless in its current form.
Logitech took a $90 million loss on its Google TV expenditure and its attempt to revamp European retail operations in the quarter before this one.