Logitech CEO: Google TV was a 'gigantic' mistake
Less than a year after its debut, Logitech (Nasdaq: LOGI) is pulling the plug on manufacturing its Google TV set-top. CEO Guerrino De Luca said at an investor event Thursday that the company's efforts to sell its Revue set-top that contained Google TV software was a "mistake of implementation of a giant nature."
Logitech has pulled the plug on its Revue set-top.
Google (Nasdaq: GOOG) and Logitech had hoped that consumers would use the Revue set-top--which can be connected to cable and satellite TV boxes--as a way to navigate both live TV and Internet video programming. But few consumers were willing to buy the box, which cost $250 when it went on sale last year. Sales didn't pick up after Logitech dropped the price to $99 in July.
De Luca says Logitech has lost more than $100 million in operating profits on the Revue set-top in the last year.
With Logitech out of the picture, Google will have to rely primarily on Sony , which has embedded Google TV software in some of its connected TVs, to drive distribution for its Google TV platform.
- CNET has this story