Logitech, makers of the Google TV-based "Revue" set-top box, lost $30 million in the Q1, following a disastrous $34 million loss thanks to the Revue and its accessories based on the device.
The Revue debuted last October for $250 and was instantly met with criticism for the price and the fact that Google TV was buggy. Additionally, the media companies put a death knell in the service when they began blocking free streaming content from their own sites, like Fox.com or ABChd.com.
New CEO Guerrino De Luca, replacing recently fired Gerald Quindlen, said this of the set-top (eWeek):
We launched Revue with the expectation that it would generate significant sales growth in spite of a relatively high price point and the newness of both the smart TV category and the underlying platform. In hindsight, there are number of things we should have done differently.
Additionally, the Revue has now been priced down to $99:
With the price barrier removed, we believe Logitech Revue is the most compelling connected TV offering in the market, especially with the expected release of version 2 of Google TV later this summer. All new and existing Revue users will automatically receive this update, which is built on Android 3.1. Among other benefits, V2 will offer a simplified user experience and access to many more apps, made possible by the booming Android Market.
Written by: Andre Yoskowitz @ 1 Aug 2011 0:49
