New iPad Cover from Logitech - Analyst Blog

By Zacks | February 06, 2013 AAA

Logitech International (LOGI) announced the launch of a slim, protective keyboard cover called Logitech Ultrathin Keyboard mini. This cover is specifically designed for the iPad and also helps enhance the ipad experience, from enjoying apps, movies and photos to providing a comfortable typing experience while maintaining the tablet's thin, light and sleek style. The Ultrathin Keyboard mini has a thin aluminum cover that perfectly matches the iPad mini and therefore ensures durable protection despite minimal weight. Further, the powerful integrated magnets attach the cover securely offering full-size keys for easy typing.

The Logitech Ultrathin Keyboard mini will be available in the U.S. and Europe from Feb 2013 and is priced at $79.99. The new mini iPad cover also has an instant On/Off feature, enabling the iPad mini to automatically switch on when the user opens the cover and again switches to standby when closed.

In addition, the cover can be flipped around and the built-in Bluetooth EasyType keyboard can be used. In the tablet market, Bluetooth keyboards that fold up into a case or tablet stand are most sought after, since they allow convenient travel with the tablet as this enables turning a tablet into more of a full-featured computer.

Given the current trend toward smartphones and tablets, Logitech intends to tap this high potential market through its innovative range of accessories. The launch of the iPad mini cover is one such step toward this strategic business decision by Logitech.  In the last reported quarter (3Q13), Tablet Accessories was the best-performing retail product category, with sales increasing a robust 119.2% year over year to $39.4 million.

Logitech has a Zacks Rank #4 (Strong Sell) while its competitors Stratasys Ltd. (SSYS) has a Zacks Rank #1(Stong Buy) and Immersion Corporation (IMMR) and Intermec, Inc. (IN) carry Zacks Rank #2 (Buy).

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