April 28, 2016 / 6:58 AM / a year ago

Logitech CEO upbeat amid smartphone slowdown: CNBC

ZURICH (Reuters) - Swiss-American technology accessories maker Logitech could benefit from a slowdown in the smartphone market, Chief Executive Bracken Darrell said on Thursday after it reported its best annual retail sales growth in five years.

Logitech president Bracken Darrell poses before a Reuters interview during the opening day of the IFA consumer electronics fair in Berlin, August 31, 2012. REUTERS/Tobias Schwarz

“From our perspective it’s wonderful if there’s a slight slowdown in the mobility and smartphones, for example. It just means consumers will have more money to spend on other things that can improve the experience. Right now, we’re seeing even growth on mice and keyboards,” he told CNBC in an interview.

He said the advent of virtual reality and augmented reality posed opportunties as well.

“There are lots of companies working on the primary devices there and the peripherals around them. And you can bet that we’re exploring things in that space. Right now, there are so many opportunities for us to grow in other spaces as well, we’re really making choices. But I think as virtual reality and augmented reality come, there will be opportunities for us.”

He played down market concerns about Apple Inc, which on Tuesday posted its first-ever decline in iPhone sales and its first revenue drop in 13 years.

“I‘m optimistic about Apple,” Darrell said.

Reporting by John Miller; Editing by Michael Shields

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