Logitech International’s CEO Looks to Expand in Education, Healthcare and Other Sectors with Artificial Intelligence

Logitech International, a Swiss-U.S. company that specializes in computer mice, keyboards, and video conferencing devices, is looking to expand its customer base into new sectors and utilize artificial intelligence for faster growth in the future. Chief Executive Hanneke Faber mentioned that the company aims to tap into markets such as education, healthcare, retail, construction, and manufacturing to double its total addressable market.

Faber took over as CEO in December 2023 and emphasized the importance of attracting new consumers and encouraging existing customers to purchase premium versions of Logitech’s products like speakers and webcams. The company is targeting a wider audience beyond office workers by exploring opportunities in these markets.

One specific area Logitech is focusing on is education, with plans to develop headphones suitable for children. The company also sees potential in the gaming industry by creating products for players who use consoles and mobile phones. While sales to businesses are currently challenging, Faber noted that the shift to hybrid work post-pandemic is a permanent trend. Logitech plans to introduce more AI-equipped products, such as video conferencing software that uses AI to enhance user experience.

In terms of potential acquisitions, Faber mentioned that Logitech has $1.5 billion in cash but emphasized the need to be cautious and avoid hastily rushing into deals. The company is prepared to explore strategic acquisitions in the future but remains focused on sustainable growth and innovation.