Logitech (LOGI) Launches AI-Driven Zone Wireless 2 Headsets
Logitech International LOGI launched the Zone Wireless 2, an artificial intelligence (AI)-driven, two-way noise-canceling business headset. It is equipped with AI-powered noise-canceling microphones, hybrid Active Noise Cancellation (ANC) and personalized stereo sound for noise-free calling.
The headset effectively cancels ambient noise from the user's side as well as the other person's side. To suppress the ambient noise captured by the other end’s microphone, Zone Wireless 2 uses the Advanced Call Clarity feature, which separates the voice from the noisy environment. On the other hand, the microphones included in the headset use advanced beamforming technology to capture the user’s voice while filtering out distracting background sounds, providing a unique two-way noise cancellation advantage.
The ANC feature blocks out surrounding noise and includes a transparency mode to allow users to hear their surroundings while wearing the headphones. It also offers a Personal EQ feature for adjusting the headset volume to match individuals’ hearing preferences. Both the Advanced Call Clarity and Personal EQ features can be activated through Logi Tune.
Logitech International S.A. Price and Consensus
Logitech International S.A. price-consensus-chart | Logitech International S.A. Quote
Additionally, Logitech has incorporated its patent-pending technology, multipoint Bluetooth and a smart enumeration system into the headset. With almost 40 hours of battery life, a variety of colors to choose from and smart-touch earpad controls, the stylish Zone Wireless 2 allows users to enjoy immersive sound without the need to remove those headsets.
Logitech Zone Wireless 2 was made with sustainability in mind. Zone Wireless 2 includes plastic parts that are 20% certified post-consumer recycled and aluminum parts that are produced by using renewable energy, and the packaging is made with products that are Forest Stewardship Council certified. Moreover, the headsets are Microsoft Teams certified as well as compatible with Zoom, Google Meet, Google Voice and Fast Pair.
The launch of the Zone Wireless 2 is part of a series of product launches in the second quarter of 2024, which also included the Logitech G PRO X TKL LIGHTSPEED Gaming Keyboard, Logitech G PRO X SUPERLIGHT 2 Gaming Mouse, Wave Keys Keyboards, Adaptive Gaming Kit for Access Control for PlayStation 5 and the latest generation of Yeti microphones.
Shares of Logitech have outperformed the Zacks Computer – Peripheral Equipment industry in the year-to-date (YTD) period. Shares of LOGI have gained 16.2% YTD compared with the Computer – Peripheral Equipment industry’s rise of 2.1%.
Expanding Product Portfolio
Logitech intends to tap the high-potential market for accessories by pursuing innovation and expanding its product lines. The company has manufactured innovative offerings like the fastest performing mouse and keyboard switches, wireless mouse with longest battery and multi-device keyboards, among others.
LOGI is also expanding its product portfolio through acquisitions. In July 2023, it acquired Finland’s Loupedeck. The acquisition is expected to enhance Logitech’s ability to provide customizable and contextual control experiences for the company’s full portfolio of devices, including the Logitech Software Roadmap solution.
Loupedeck offers deep native integrations with industry-leading creative software for photo editing, retouching, video editing, color grading design and streaming. Its custom consoles combine analog control with digital precision to offer power and flexibility to all creators. With this buyout, Logitech will leverage Loupedeck’s strong and growing developer community that will unveil advanced innovation, empowering streamers, creators and gamers.
LOGI’s sustained focus on introducing new and innovative products might boost sales and somewhat offset the negative impact of the weakened demand for PC peripheral products. In 2020 and 2021, Logitech benefited from the elevated demand for its Video Collaboration, PC Webcams, Keyboards & Combos and Pointing Device tools, mainly driven by the heightening of work-from-home and learn-from-home trends.
However, the weakening global economy amid ongoing macroeconomic and geopolitical issues enhanced global recessionary concerns, thereby prompting enterprises to postpone their large IT spending plan. Furthermore, continued industry layoffs due to growing recessionary concerns are hampering the demand for PC peripheral products by organizations.
The aforementioned factors are hurting Logitech’s financial performance. In first-quarter fiscal 2024, the company’s revenues and non-GAAP earnings per share declined 16% and 12%, respectively, on a year-over-year basis.
Zacks Rank and Other Stocks to Consider
Currently, Logitech carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the broader technology sector are NVIDIA NVDA, Splunk SPLK and Palo Alto Networks PANW, each sporting a Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NVIDIA's third-quarter fiscal 2024 earnings has been revised upward by 2 cents to $3.34 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 7 cents to $10.74 per share in the past 30 days.
NVIDIA’s earnings beat the Zacks Consensus Estimate thrice in each of the trailing four quarters while missing on one occasion, the average surprise being 9.8%. Shares of NVDA have rallied 215.4% year to date.
The Zacks Consensus Estimate for SPLK's third-quarter fiscal 2024 earnings has been revised upward by a penny to $1.12 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 2 cents to $3.78 per share in the past 30 days.
Splunk’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 155%. Shares of SPLK have surged 72.2% year to date.
The Zacks Consensus Estimate for Palo Alto Networks' first-quarter fiscal 2024 earnings has been revised upward by 6 cents to $1.16 per share in the past 60 days. For fiscal 2024, earnings estimates have increased by 39 cents to $5.34 per share in the past 60 days.
Palo Alto Networks’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 22.2%. Shares of PANW have surged 87.4% year to date.
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