Logitech drops to 17-month lows after US tariffs on Asian countries

Logitech International SA

03/04/2025 11:14

** Shares in computer parts maker Logitech LOGN.S drop around 12% after U.S. President Donald Trump moved to impose sweeping tariffs, including on imports from many Asian countries

** Logitech's annual revenue from sales to customers in the U.S. represented 36% in fiscal year 2024

        ** Maurizio Porfiri, chief investment officer at Maverix Securities, says that about 40% of Logitech's products are manufactured in its own factories in China, and additional production takes place in Asia and Latin America

** "The latest tariff announcements are likely to put additional pressure on analyst estimates," he says

** The stock falls to its lowest price since October 2023 at 1003 GMT and is among worst performers on Europe-wide STOXX 600 .STOXX index

** If losses hold it will see its worst day since June 2023

** Peer GN Store Nord GN.CO, which makes speakerphones and headsets, drops around 10%

 (Reporting by Anastasiia Kozlova, Oliver Hirt)

 ((Anastasiia.Kozlova@thomsonreuters.com))