Google TV is a mega flop for Logitech, one of its earliest partners.
"Sales of Logitech Revue [which runs Google TV software] were slightly negative during the quarter, as returns of the product were higher than the very modest sales," said the company in remarks about its first quarter earnings, via Nilay Patel of This is My Next.'
Read that again: More Revues were returned than bought. Brutal.
The failure of the Revue was the "most significant driver of both the year-over- year and sequential decline" in Logitech's gross margin. It is taking $34 million charge on the device. The price of the Revue is down to $99 from $249.
Logitech says Google is planning a revamp of the service later this summer.
Will it make a difference? We doubt it.
