Logitech shares surge as COVID-19 boosts home-working
Global lockdown has boosted business for Logitech International.
The Swiss-U.S. computer peripherals company increased sales by 75% in its latest quarter, as people working from home splash out on computer keyboards, mice and webcams to kit out their makeshift offices.
Chief Executive Bracken Darrell said long-term changes to homeworking and demand for video calls will remain relevant even after society goes back to the new normal.
"I think the future is going to cluster into three different groups. I think they're going to be groups that go back to business as it was, which is everybody's working in the office. I think this could be a small minority. There'd be groups that are going to get rid of their offices entirely and have everybody work from home but I think that's going to be a small minority. The big middle is going to be this group that has two or three days a week in the office, two or three days a week at home. You're going to need a workspace in both places. You need video enablement in both places. So that's the future we see is really positioning us well to help on all sides."
At present, people are simply buying more of everything, Darrell said, pointing to big increases in Logitech sales.
"The work from any work trend has become - I need a place to work at home. It used to be you had your phone or a tablet or an iPad or maybe had a laptop and you sat on your bed or on your couch and worked. That's really uncomfortable to do for many, for a long day. So I think most people are realizing - I'm going to be at home a couple days a week. You know, in that middle I mentioned earlier. And so I need a desktop. So they're going to go beyond what they would have done before and setting themselves up where it looks good, it feels good. So ergonomics, aesthetics and functionality."
