Logitech is officially out of the Google TV game — as part of its Q3 2012 fiscal-year results, the company announced that it was officially sold out of the ill-fated Logitech Revue box. Logitech's CEO Guerrino De Luca had previously called the Revue "a mistake of implementation of a gigantic nature" and announced the company's intentions to let stock run out during the past quarter. Unsurpisingly, Logitech cites the Revue as part of the reason for its eight percent decline in American sales, noting that Revue sales were down by $15 million this year, partially due to the pre-announced discontinuation, and partly due to the significant price cuts the Revue experienced since it launched.
Logitech's remote category was also cited as a major weakness in the quarter past, but the company's finally taking steps to address it. In its prepared statement, Logitech recognized major gaps in the high end of its remote product category — specifically, the Harmony One, which was introduced nearly four years ago. This weakness led to a 30 percent decline in Harmony remotes, but Logitech acknowledged that it plans to "strengthen [the] Harmony line-up in the coming months." Given the poor quarter it had, Logitech will likely want to get these new remotes out sooner than later.