"We have delivered five consecutive years at or near double-digit growth, and Logitech’s products have never been more relevant," said Bracken Darrell, Logitech president and chief executive officer. "Video conferencing, working remotely, creating and streaming content, and gaming are long-term secular trends driving our business. The pandemic hasn’t changed these trends: it has accelerated them."
Case in point, Logitech noted a 34 percent in webcam sales during the fourth quarter, and an 8 percent bump for the full year. In other words, it was already seeing an increase in webcam sales for its fiscal 2020, and as stay-at-home orders permeated the nation, the demand jumped even further in the past few months.
Logitech also noted double-digit growth in its three main biggest categories, those being Creativity & Productivity, Gaming, and Video Collaboration.
Logitech also noted a 27 percent decline in its Smart Home products, which slid 27 percent in the fourth quarter, and 11 percent year-over-year. It's not clear why this happened, though it perhaps is a partial result in increased competition for smart devices.
Looking ahead, Logitech expects to see mid-single digit growth this year.