Logitech Q4/09

Logitech has just announced its Q409 results, with overall year-on-year sales down by 32% - 36% in EMEA, 33% in the Americas, and 14% in Asia. While it's clear that the economic downturn is the principal cause of this decline, Logitech say that de-stocking in the channel has been a significant contributor. This trend has been affecting pretty much all hardware suppliers in recent months, but presumably at some point equilibrium will be reached and the sell-in and sell-out numbers will once again become aligned. Only at that point will we really be able to see the true impact of the recession on demand.