Logitech new logo (Photo : ilounge)
Logitech's new "Logi" logo implies that the tech company does not only sell CPU peripherals such as a computer mouse and iPad keyboard. It has expanded its product portfolio's cash cow items such as its world-famous TV remote control, to also include mobile accessories, tablet keyboards, wireless speakers, and other tech devices.
Logitech International S.A. will be launching a name change by dropping the "tech." So now it is just known as Logi, according to PC Mag; "lodge-ee" is the correct pronunciation.
The tech company is also scrapping the old-school teal logo, which seems to show the image of a rotated CPU mouse or boomerang.
Logitech will be using a crisp, clean design. The new logo better symbolizes the diversity of the company's product line.
CEO Bracken Darrell explained the purpose of dropping "tech" in its name. He said that within a decade technology will be contained in clothes, shoes, and tires, so "Logitech" will seem 1980s-like.
Darrell took the company's reins in 2012. Since then, he has helped to boost its profit margins.
The CEO moved big bucks from computer mice to new product categories such as tablet accessories and wireless speakers.
When Darrell arrived at Logitech, he noticed that the company had quality electrical engineers, but no designers, according to Wired. So he brought Nokia's chief designer on board.
Although the technology company sold its billionth mouse in 2008, Darrell noticed that PC peripheral sales were nosediving. He decided to invest heavily in R&D for items such as Bluetooth speakers, tablet accessories, and teleconferencing systems.
Those three product categories raked in $380 million in sales during the past three years, while the company's profits tripled. Its stock price doubled to $14 a share.
Logitech's rebranding is a culmination of its wholesale changes since 2012. The teal splash is gone, and the new company symbol will be color-coded for different products. Darrell called the new logo "youthful."
Logitech was founded in 1981. Its worldwide revenue last year was $2.13 billion.
