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Logitech said it now expected annual sales growth of between 57% and 60% for the full year. Araya Diaz/Getty Images for Logitech
Logitech stock jumped early on Tuesday, as the computer peripherals maker raised its annual guidance for the third time after profits soared in the third quarter.
The Swiss-U.S. company, which also has a Nasdaq listing, has benefited from the Covid-19 pandemic-induced work-from-home trend as demand for its products including webcams, keyboards and gaming accessories has surged.
The momentum continued in the third quarter as Logitech reported sales of $1.67 billion, an 85% increase on the year-ago period, led by videoconferencing and gaming products. Operating income grew 248% to $448 million in the three months to Dec.31, while net profit excluding items rose 192% to $2.45 per share, smashing the FactSet consensus of $1.14 per share. The
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Lying Down on the Job
Even as laptops have replaced typewriters, today’s desks remain flat surfaces that often encourage slouching. Bay Area startup Altwork has plowed more than $10 million and 80,000 hours of research into about 15 prototypes and 10 patents for a workstation that CEO Che Voigt says acts as an extension of the body. It consists of a dentist’s-office-style reclining seat, with an attached computer monitor stand, laptop stand and magnetic desk surface, all of which adjust with the push of a button as the user stands, sits or lies down. The magnetic surface holds a magnetic keyboard and mouse so they don’t fall off. “If it’s not comfortable, you can’t do your best work,” says Mr. Voigt. Altwork offers two models priced at $4,650 and $7,650 and has shipped 1,000 units world-wide since 2016, he says. Mr. Voigt hopes future versions will be able to monitor stress levels and provide cooling and heating.
Jan. 11, 2021 6:17 pm ET
Personal computer sales last year registered their strongest growth in a decade, underscoring a shift to computers from mobile devices during the coronavirus pandemic, according to industry data.
“Demand is pushing the PC market forward and all signs indicate this surge still has a way to go,” Ryan Reith, program vice president with International Data Corp.’s Worldwide Mobile Device Trackers, said in a statement.
IDC counted 302.6 million units sold globally last year, up 13% from the previous year. Research firm Gartner said PC shipments reached 275 million units in 2020, up 4.8% on the year. Similarly, Canalys pegged the increase at 11% to 297 million units, the highest annual growth since 2010 and the highest shipment volume since 2014.
Jan. 11, 2021 6:17 pm ET
The shift to remote work is jolting the lackluster personal computer market, as chief information officers and other corporate information-technology leaders raced to equip stay-at-home workers during the coronavirus pandemic, analysts say.
After a slowdown early in the year, total global shipments of personal computers in 2020 surged 11% from 2019, to 297 million units, according to a report Monday by research firm Canalys.
The gains represent the sharpest full-year growth rate in a decade, and the highest volume of PC shipments since 2014, the report said.
Within the market, shipments of notebooks and mobile workstations rose 44% from 2019, to more than 235 million units, while conventional desktops and workstations declined 20% to 61.9 million.