Logitech, Once a Work-from-Home Beneficiary, Loses $1.5B in a Day

Logitech International SA (NASDAQ: LOGI) closed at $113.38 on Nasdaq, plunging 10.51% in a single day. Its market capitalization fell to about $16.3 billion (roughly KRW 24.6 trillion), erasing around $1.5 billion—or about KRW 2.3 trillion—in one session.

Recently, Logitech’s official China store came under fire for a mouse advertisement on the Douyin video platform that likened consumers to “dogs,” triggering local boycotts and demands for an apology, and underscoring a brand image risk. At last year’s annual general meeting, shareholders elected Guy Gecht as the new board chair and approved an increased dividend, reflecting ongoing efforts to boost shareholder returns and reform corporate governance.

Founded in Switzerland in 1981, Logitech International is a global leader in PC and mobile peripherals, selling mice, keyboards, headsets, webcams, and gaming gear worldwide. Listed simultaneously on the SIX Swiss Exchange and Nasdaq, the company saw explosive growth during the pandemic amid a remote-work, streaming, and gaming boom; since demand has normalized, it has undergone revenue and margin adjustments, exemplifying the volatility of a hardware growth stock.