LAUSANNE, Switzerland, April 30(Reuters) - Logitech
International is targeting faster growth in future by
expanding its customer base into areas like education and
healthcare as well as doing more with artificial intelligence,
Chief Executive Hanneke Faber said on Tuesday.
The computer mice, keyboard and video conferencing maker
snapped 2-1/2 years of declines to post its first quarterly
sales increase.
The Swiss-U.S. company, which suffered a downturn after a
pandemic-driven boom, is now aiming for sales growth of 0-2% in
the next 12 months, with faster growth after that.
"We are talking about accelerating growth organically to
mid-single digits after this financial year," Faber told Reuters
in an interview at Logitech's headquarters in Lausanne.
Faber, who took charge in December 2023, said Logitech wants
to expand its consumer base and also get customers to buy more
premium versions of its products which include speakers and
webcams.
Until now Logitech had mainly focused on products for office
workers, said Faber.
"Most people in the world don't work in an office. They work
in retail, education, construction and manufacturing," Faber
said. "We have room to play in all those places and that can
double the total addressable market that we play in."
Education was one area targeted, for example by making
headphones suitable for children.
There was an opportunity to double its addressable market in
gaming by producing more products for console and mobile phone
players, Faber said.
Logitech was also looking to increase sales to businesses,
although Faber said the market was currently "challenging."
Still, Faber said the move to hybrid work following the
pandemic was a trend that was "here to stay".
More products will also be launched which are equipped with
artificial intelligence, for example to allow users quick access
to generative AI systems like ChatGPT.
Other products include AI-equipped video conferencing
software which enables cameras to focus on the person speaking,
while ignoring background noises.
Acquisitions could also feature again, Faber said, with
Logitech having $1.5 billion in cash, although she said she
would not be rushed into deals
"We do have the firepower but that doesn't mean I'm going to
get trigger happy," she said.
(Reporting by John Revill; Editing by Emelia Sithole-Matarise)