Logitech Lost Tons ‘o Money on GoogleTV… Pulls Plug!

I love my Roku, as you know, so set-top boxes for Internet-based TV is awesome! But, GoogleTV apparrently just didn’t “catch on!”

Logitech confesses to ‘gigantic’ mistake with Google TV

“Logitech is halting production of its Google TV Revue set-top boxes, acknowledging that the whole affair was a financial disaster for the company.

At an Analyst and Investor Day hosted by Logitech on Wednesday, CEO Guerrino De Luca confessed that the Revue was a ‘mistake of implementation of a gigantic nature.’ In his presentation, DeLuca in part pointed the finger at Google TV, referring to it as a ‘beta’ product, according to The Verge.

De Luca told investors that Logitech lost more than $100 million in operating profits on the Revue after bringing it to the market almost a year ago. As a result, the company will simply let existing inventory of the Revue run out this quarter and will not make another set-top box to replace it.

The CEO intimated that Google TV simply wasn’t ready to launch when it did and that Logitech mistakenly thought the search giant’s product was revolutionary, The Verge reported. DeLuca also blamed his company’s own ‘operational miscues in EMEA [Europe, Middle East, and Africa]’ for the Revue’s failure to ignite the market.

‘To make the long story short, we thought we had invented [sliced] bread and we just made them,’ DeLuca said. The company made a commitment to ‘just build a lot because we expected everybody to line up for Christmas and buy these boxes [at] $300…that was a big mistake.'”

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