What changed in this filing

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Item 1. Business

2021-05-12 compared with 2020-05-27 · 193 added, 182 removed, 257 unchanged (59% of the section changed)

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Logitech is a world leader in designing, manufacturing and marketing products that help connect people to digital and cloud experiences.

More than 35 years ago, Logitech created products to improve experiences around the personal computer (PC) platform, and today it is a multi-brand, multi-category company designing products that enable better experiences consuming, sharing and creating digital content such as computing, gaming, video and music, whether it is on a computer, mobile device or in the cloud.

Logitech's brands include Logitech, Logitech G, ASTRO Gaming, Streamlabs, Ultimate Ears, Jaybird, and Blue Microphones.

Almost 40 years ago, Logitech created products to improve experiences around the personal computer (PC) platform, and today it is a multi-brand, multi-category company designing products that enable people to pursue their passions and connect to the world.

Logitech’s products align with several large secular trends including work and learn from anywhere, video everywhere, the increasing popularity of gaming as a spectator and participant sport, and the democratization of content creation.

Logitech's brands include Logitech, Logitech G, ASTRO Gaming, Streamlabs, Blue Microphones, Ultimate Ears, and Jaybird.

Our Company's website is www.logitech.com.

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We operate in a single operating segment:

For more information about segments and geographic areas, please refer to Note 15 of our consolidated financial statements included in this Annual Report on Form 10-K.

For more information, see Note 15 - Segment Information in our Notes to the consolidated financial statements included in this Annual Report on Form 10-K.

Our products participate in five large markets:

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Our worldwide channel network includes consumer electronics distributors, retailers, mass merchandisers, specialty stores, computer and telecommunications stores, value-added resellers and online merchants.

On October 31, 2019, we acquired all equity interests of General Workings, Inc.

(Streamlabs) for a total consideration of $105.7 million , which included a working capital adjustment, plus additional contingent consideration of $29.0 million payable in stock only upon the achievement of certain net revenues for the period beginning on January 1, 2020 and ending on June 30, 2020 (the Streamlabs Acquisition).

Streamlabs is a leading provider of software and tools for professional streamers.

The Streamlabs Acquisition is complementary to our gaming portfolio.

On August 21, 2018, we acquired all equity interests in Blue Microphones Holding Corporation (Blue Microphones) for a total consideration of $134.8 million in cash, which included a working capital adjustment and repayment of debt on behalf of Blue Microphones (the Blue Microphones Acquisition).

Blue Microphones is a leading audio manufacturer that designs and produces microphones, headphones, recording tools, and accessories for audio professionals, musicians and consumers.

The Blue Microphones Acquisition supplements our product portfolio.

From time to time, we may seek to partner with or acquire, when appropriate, companies that have products, personnel, and technologies that complement our strategic direction.

For more information, see Item 7.

Management’s Discussion and Analysis of Financial Condition and Results of Operations and Note 3—Business Acquisitions in our Notes to consolidated financial statements.

Industry Overview

Historically, Logitech's business has been driven by the same trends that drove the adoption of desktop and laptop PCs for consumers, businesses and institutional applications, including the growth in affordable processing power, communications bandwidth, the increased accessibility of digital content, and the growing and pervasive use of the Internet for productivity, communication and entertainment.

More recently, the democratization of content creation, the rising trend of electronic sports (esports), the growth of streamers and creators and the expansion of video everywhere have created multiple opportunities for Logitech to drive greater interaction and engagement between people and digital content.

In the last several years, new PC shipments have stagnated and, combined with increased interest in smaller, mobile computing devices (such as smartphones and tablets), the market for PC peripherals has rapidly changed.

We see opportunities within the large installed base of PCs, created by consumers' desire to refresh their current PCs with new peripherals, as well as new trends developing within the connected device ecosystems.

Logitech International S.A.

| Fiscal 2020 Form 10-K | 3

the refresh of operating systems and new use cases created by the growth of specific cloud-based services and applications drive new peripherals opportunities.

Historically, Logitech's business has been driven by the same trends that drove the adoption of desktop and laptop PCs for consumers and businesses, including the growth in affordable processing power, communications bandwidth, the increased accessibility of digital content, and the growing and pervasive use of the Internet for productivity, communication and entertainment.

More recently, remote and hybrid work and learning, the democratization of content creation, the rising trend of gaming becoming one of the largest participant and spectator sports, the growth of streamers and creators and the expansion of video everywhere have created multiple opportunities for Logitech to drive greater interaction and engagement between people and digital content.

In the past year, new PC shipments have steadily increased and, combined with increased interest in smaller, mobile computing devices (such as smartphones and tablets), the market for PC peripherals has greatly expanded.

We see opportunities within the large installed base of PCs, created by consumers' desire to refresh their current PC experiences with new peripherals, as well as new trends developing within the connected device ecosystems.

In addition, the increasing adoption of hybrid work will likely increase the number of new workspaces, thereby creating expanded opportunities to attach multiple peripherals.

Consumers are also enhancing their tablet experience with a range of keyboards and cases that enable them to create, consume and do more with their tablets conveniently and comfortably.

Growing adoption of cloud-based experiences in gaming, video, music and smart home has expanded our addressable market opportunities.

The recent shift toward remote and hybrid learning environments has also significantly increased the addressable education market for tablet keyboards and cases, as well as for other PC peripherals.

Growing adoption of cloud-based experiences in gaming, video, music and smart home has also increased our addressable market opportunities.

More and more consumers today interact with cloud-based content platforms, such as Steam and Twitch for gaming, or Zoom and Microsoft Teams for video collaboration.

Logitech offers peripherals and accessories to enhance the use of such cloud-based content platforms.

Logitech International S.A.

| Fiscal 2021 Form 10-K | 3

In the gaming market, the rapid rise of esports and the growth of live streamers on platforms such as Twitch and broadcasters on platforms such as YouTube continue to drive growth.

We leverage our deep research and development (R&D) capabilities in the area of PC peripherals to develop industry-leading gaming gear that enhances consumers' overall gaming experience and performance.

We leverage our deep research and development (R&D) capabilities in the area of PC peripherals that include Pointing Devices, Keyboards & Combos and PC Webcams, to develop industry-leading gaming gear that enhances consumers' overall gaming experience and performance.

As consumers increasingly watch various esports tournaments or other gaming broadcasts on cloud-based platforms such as Twitch, the gaming industry is becoming both a source of entertainment and participation by mainstream consumers.

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The video communication industry continues to make progress toward a vision in which people can conduct a video call from any of a variety of platforms - video-enabled rooms, PCs, laptops and mobile devices such as tablets and smartphones - to any other platform.

This trend to embrace cloud video conferencing by businesses and institutions and, in particular, the growing adoption of remote work, distance learning, and telemedicine, is driving our Video Collaboration category and offers a long-term growth opportunity for Logitech.

This trend to embrace cloud video conferencing by businesses and institutions and, in particular, the growing adoption of remote work, learning, and telemedicine, is driving sales of our Video Collaboration category and offers a long-term growth opportunity for Logitech.

For businesses and institutions, video conferencing is increasingly substituted for travel, because of high travel costs as well as the productivity gain that can be achieved by a high-quality, face-to-face meeting that does not require travel away from the office.

For some schools, distance learning has become a complementary or, in some cases, an alternative way to educate students.

For some schools, remote learning has become a complementary or, in some cases, an alternative way to educate students.

Further, with the increased availability of high Internet bandwidth, video conferencing is becoming a key component of Unified Communications, which is the integration of communications solutions such as voicemail, e-mail, chat, presentation sharing and live video meetings.

The market opportunity to provide innovative, affordable, and easy-to-use video collaboration products to the millions of small- to medium-sized meeting rooms lacking video is substantial, and we are well-positioned to take advantage of that opportunity and to expand into large-sized meeting rooms.

Cloud-based music services have enjoyed tremendous growth, fueled by the adoption of smartphones, tablets, and other connected devices.

Consumers are optimizing their audio experiences on their tablets and smartphones with wireless mobile speakers that pair easily with their mobile devices and with in-ear and other headphones.

Our mobile speakers and in-ear headphone products target a large market that reflects the increasing popularity of mobile devices or various voice assistants for accessing digital music, although near-term growth has slowed in some markets.

Additionally, within the music market, consumers are increasingly listening with wireless earphones while they undertake activities such as sports and fitness.

The innovation in truly wireless headphones has led to double-digit industry growth in revenue and average selling price, which highlights a growth opportunity for Logitech.

The market opportunity to provide innovative, affordable, and easy-to-use video collaboration products to the millions of small- medium- and large-sized meeting rooms lacking video is substantial, and we are well-positioned to take advantage of that opportunity.

Cloud-based music services have experienced growth across the industry, fueled by smartphones, tablets, and other connected devices.

Consumers are optimizing their audio experiences on their tablets and smartphones with a variety of music peripherals including wireless mobile speakers and in-ear and other headphones.

Within the music category, the market for mobile speakers has matured and the integration of personal voice assistants has increased competition in the speaker category.

Consumers are increasingly listening with wireless earphones while they undertake activities such as sports and fitness.

The innovation in truly wireless headphones has led to industry growth in revenue, which highlights a growth opportunity for Logitech.

In addition, consumers are increasingly streaming and broadcasting using microphones and other peripherals which also expands our opportunities.

The home is also an important place for technological development, particularly as an increasing number of objects become connected smart home devices such as home security cameras, light bulbs, security locks, thermostats and others.

Logitech’s line of universal remotes and hubs control electronic and connected devices around the home, including these and other smart devices.

Logitech International S.A.

| Fiscal 2020 Form 10-K | 4

Business Strategy

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• Operations.

Logitech International S.A.

| Fiscal 2021 Form 10-K | 4

In the past few years, Logitech has strengthened its design capabilities by building a world-class team of internal designers.

Our designs have an everyday place in people’s lives, connecting them to the digital experiences they care about.

These products have been earning prestigious design awards - 286 design awards during the past six fiscal years - and enthusiastic reviews in the media.

This is an important indication that Logitech’s strategic aim to become a design company is working.

During fiscal year 2020, we won 54 design awards spanning all of our product categories.

These products have been earning prestigious design awards - 127 design awards during the past three fiscal years - and enthusiastic reviews in the media.

This is one indication that Logitech’s strategic aim to become a design company is working.

During fiscal year 2021, we won 23 design awards.

As Logitech establishes itself as a design company, design thinking and culture are used as a strategic and cultural differentiator.

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Over the past 30-plus years, Logitech has built an extensive global go-to-market network that can be leveraged as we introduce new products, enter new market categories and optimize the value of our existing products and product categories.

We have multiple opportunities to drive growth - existing products in existing retailers, new products in existing retailers, existing products in new retailers, and new products in new retailers.

Beyond traditional retail and distribution channels, we have also cultivated various non-traditional retail channels and are building our direct sales force to sell our products.

As we continue to expand into new channels, there are numerous cross-selling opportunities across our broad product portfolio.

We have established Logitech as a neutral technology supplier that can work with leading technology vendors and platforms as well as provide connections among their products and ecosystems.

We have multiple opportunities to drive growth - existing products in existing and new retailers, and new products in existing and new retailers.

Beyond online and offline retail and distribution channels, we have also strengthened other commercial channels.

As we increase our investments in Video Collaboration, we are also expanding our enterprise sales coverage through our sales force as well as various channel partners.

And with expansions into new channels, there are numerous cross-selling opportunities across our broad product portfolio.

We have established Logitech as a neutral technology supplier that can work with a variety of leading technology vendors and platforms as well as provide connections among their products and ecosystems.

As Logitech expands into multiple categories with multiple brands, we are focusing on enhancing our marketing capabilities around brand strategy and execution, digital marketing, and marketing technology.

More recently, we are meaningfully increasing our brand marketing investments to drive greater brand awareness and consideration, as we pivot to a demand pull model from a demand push model.

Most of the marketing and creative efforts that were once outsourced to outside marketing agencies are now executed through our internal teams from concept to execution, which improves speed and cost efficiency.

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And we are making investments to upgrade and expand all aspects of our marketing technology infrastructure, including the re-platforming of our websites to support the global expansion of our brands across countries, languages and devices and to provide the foundation for the acceleration of our digital marketing efforts and evolution to personalized consumer communication.

Logitech’s operations capability consists of a hybrid model of in-house manufacturing and third-party contract manufacturers, which allows us to effectively respond to rapidly changing demand and leverage economies of scale.

Our supply chain’s extensive global reach, key distribution channels, adoption of factory automation and strategic business relationships combined with extensive analytic modeling expertise, optimization tools and global processes provide a competitive advantage against many of our competitors.

Logitech International S.A.

| Fiscal 2021 Form 10-K | 5

Our supply chain’s extensive global reach, key distribution, adoption of factory automation and strategic business relationships combined with extensive analytic modeling expertise, optimization tools and global processes provide a competitive advantage against many of our competitors.

Products Logitech designs, manufactures and markets products that allow people to connect through computing, gaming, video, music, and other digital platforms.

The large majority of our revenue has historically been derived from sales of our products for use by consumers.

Logitech designs, manufactures and markets products that allow people to connect through computing, gaming, video, music, and other digital platforms.

The large majority of our revenue has historically been derived from sales of our products for use by consumers while more recently we have experienced growth in sales of our products to enterprise customers.

Creativity & Productivity

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Some of our key products in this category include:

The Logitech MX Master 3 and MX Anywhere 2S wireless mice, our flagship wireless mouse products.

• The Logitech MX Master 3 and MX Anywhere 3 wireless mice, our flagship wireless mouse products.

Enabled with Logitech Flow cross-computer control software, these products represent the new paradigm for precise, fast, comfortable cross-computer digital navigation.

The Logitech MX Ergo, a wireless trackball that offers personalized comfort with a unique adjustable hinge, precision tracking and multi-device connectivity.

The Logitech MX Vertical, a wireless mouse which is angled 57 degree and offers ergonomic comfort, precision tracking and multi-device connectivity.

• The Logitech Wireless Mouse M325, which offers micro-precise scrolling, 18-month battery life and comfortable design.

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Logitech offers a variety of corded and cordless keyboards, living room keyboards, and combos (keyboard-and-mouse combinations).

Some of our products in this category include:

The Logitech MX Keys Wireless keyboard, a premium backlit keyboard with customizable keys to access directly menus and shortcuts within leading creativity and productivity apps.

The Logitech Wireless Touch Keyboard K400 Plus, a compact keyboard with an integrated touchpad and 10-meter wireless range, designed for use in the living room.

The Logitech K380 wireless minimalist keyboard with multi-switch functionality to easily navigate from one screen to another (from PC to Phone to tablets) that is compatible with any computer.

Some of our key products in this category include:

• The Logitech Wireless Combo MK270, a full-size keyboard and mouse combination with a tiny USB receiver.

Our PC Webcams category comprises PC-based webcams targeted primarily at consumers.

The Logitech HD Pro Webcam C920 and 1080P Pro Stream Webcam, which offer razor-sharp HD 1080p video recordings and stereo sound, were top revenue-generating webcams during fiscal year 2020.

Logitech International S.A.

| Fiscal 2020 Form 10-K | 6

• The Logitech MX Keys Wireless keyboard, a premium backlit keyboard with customizable keys to directly access menus and shortcuts within leading creativity and productivity apps.

• The Logitech K380 wireless minimalist keyboard with multi-switch functionality to easily navigate from one screen to another (from PC to Phone to tablets) that is compatible with any computer.

Our PC Webcams category comprises webcams targeted primarily at video conferencing users purchasing for individual use.

A key market driver includes people upgrading their work-from-home video conferencing setup.

The Logitech HD Pro Webcam C920 and C922 were top revenue-generating webcams during fiscal year 2021.

Tablet & Other Accessories:

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These products are mostly for iPads but are also for select Samsung and other Android tablets.

Some of our products in this category include :

The Logitech Slim Combo Backlit Keyboard Case with Smart Connector for the iPad Pro 12.9 and iPad Pro 10.5 that provides thin and light front and back protection, a detachable backlit keyboard and a multi-angle stand for optimal viewing and face-time.

Some of our key products in this category include :

• The Logitech Slim Folio Keyboard for the iPad Pro 12.9 and 11, bringing a bluetooth backlit keyboard with a folio design for optimal working and viewing angle, light front and back protection and an Apple Pencil holder.

The Logitech Slim Folio Keyboard for the 7th generation iPad for a light protection folio with a bluetooth keyboard.

The Rugged Folio for the iPad 7th Generation, bringing a more protective rugged folio, with a wipeable fabric keyboard, a rugged and protective holder and an any-angle kickstand to allow multiple viewing angles.

• The Rugged Folio Keyboard for the iPad 7th Generation, bringing a more protective rugged folio, with a wipeable fabric keyboard, a rugged and protective holder and an any-angle kickstand to allow multiple viewing angles.

The Rugged Folio uses Smart Connector technology to connect to the iPad seamlessly, with no need for batteries or bluetooth pairing.

• The Combo Touch for the iPad 7th Generation and iPad Air, which is our newest design offering a Smart Connected backlit full-size keyboard, any-angle kickstand for flexible viewing angles and a trackpad for gestures, clicks and navigation.

The Logitech Keys-To-Go, an ultra-portable, stand-alone keyboard.

Logitech G provides gamers of all levels with industry-leading keyboards, mice, headsets and simulation products such as steering wheels and flight sticks, incorporating innovative design and advanced technologies .

Some of our products in this category include:

Some of our key products in this category include:

Logitech International S.A.

| Fiscal 2021 Form 10-K | 6

• The Logitech G915 LIGHTSPEED Wireless, RGB Mechanical Gaming Keyboard, which features high-performance low-profile mechanical switches that provide all the speed, accuracy, and performance of traditional switches, at half the height.

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• The Logitech G29 Driving Force Steering Wheel for PC and Sony PlayStation 4 & 5, which features a powerful dual-motor force feedback transmission, hand-stitched leather-wrapped rim, and stainless steel throttle, brake and clutch pedals for an ultra-realistic driving experience.

ASTRO Gaming is a performance gaming and lifestyle brand focused on the console gaming peripherals market with a cross-platform lineup consisting of four primary headset models and a high-performance controller for PlayStation 4 and PC:

• The A50 Wireless Headset and Base Station that targets the discerning “prosumer” consumer, featuring integrated MixAmp technology, Dolby ® Digital surround sound and the ASTRO Command Center Software system.

The A40TR and MixAmp Pro, a wired solution that targets the esport professional and live streamer, featuring Dolby ® Digital surround sound, daisy-chain chat, live stream port and the ASTRO Command Center Software system.

• The A40TR Headset and MixAmp Pro, a wired solution that targets the esport professional and live streamer, featuring Dolby ® Digital surround sound, daisy-chain chat, live stream port and the ASTRO Command Center Software system.

• The A20 Wireless Headset, a stereo headset delivering the signature ASTRO comfort and audio customization via the ASTRO Command Center Software.

• The A10 wired headset, an ultra-durable robust headset delivering ASTRO signature comfort and sound quality at a more accessible price point.

The C40 TR (Tournament Ready) wireless controller for PlayStation 4 and PC, which has modular, swappable and replaceable joysticks and d-pad, and also uses a proprietary low-latency wireless connection that supports advanced wireless audio directly to the controller.

Video Collaboration

Logitech International S.A.

| Fiscal 2020 Form 10-K | 7

The Video Collaboration category includes Logitech’s ConferenceCams, which combine enterprise-quality audio and high definition (HD) 1080p video with affordability to bring video conferencing to businesses of any size, as well as state of the art webcams and headsets that turn any desktop into an instant collaboration space.

Our key products in this category include:

The Logitech Rally, which offers best-in-class video conferencing with Ultra HD 4K video and professional audio that easily turns medium- to large-sized conference rooms into video-enabled collaboration rooms.

The Logitech MeetUp, which is Logitech’s premier ConferenceCam designed for huddle rooms, with a room-capturing 120° field of view ( FOV), 4K optics and exceptional audio performance.

The Logitech Tap touch-screen controller connects to any computer via USB and serves as an ideal controller for video conferencing room solutions from Google®, Microsoft®, and Zoom.

The Logitech BRIO, which has 4K video, RightLight 3 and high dynamic range (HDR) to improve challenging lighting, and Windows Hello facial recognition support for secure login using just a user's face.

• Logitech Rally Bar, an all-in-one video bar purpose-built for midsize rooms, featuring brilliant video, room-filling audio, and the flexibility to deploy in PC or appliance mode.

• Logitech Rally, which offers best-in-class video conferencing with Ultra HD 4K video and professional audio that easily turns medium- to large-sized conference rooms into video-enabled collaboration rooms.

• Logitech MeetUp, which is Logitech’s premier ConferenceCam designed for huddle rooms, with a room-capturing 120° field of view ( FOV), 4K optics and exceptional audio performance.

• Logitech Tap touch-screen controller connects to any computer via USB and serves as an ideal controller for video conferencing room solutions from Google®, Microsoft®, and Zoom.

• Logitech BRIO, which has 4K video, RightLight 3 and high dynamic range (HDR) to improve challenging lighting, and Windows Hello facial recognition support for secure login using just a user's face.

Mobile Speakers:

Our Mobile Speakers category comprises portable wireless Bluetooth and Wi-Fi speakers.

The top revenue-generating product line in the Mobile Speakers category during fiscal year 2020 was the Ultimate Ears WONDERBOOM, our smaller sized portable bluetooth wireless speaker.

In fiscal year 2020 we refreshed the product with WONDERBOOM2, which added an outdoor functionality to the immersive sound experience.

Both generations of the WONDERBOOM product line remained in the channel for the full year alongside Ultimate Ears BOOM3 and MEGABOOM3 which we launched in fiscal year 2019.

In March 2020, we added a new powerful party speaker, HYPERBOOM, to the portfolio of bluetooth speakers.

This speaker has the loudest audio performance of the portfolio, combined with a new easy-switch audio source functionality that enables fast pairing to four different devices.

Our Mobile Speakers category is a portfolio of portable wireless Bluetooth and Wi-Fi connected speakers for music on the go.

The top revenue-generating product in our Mobile Speakers category during fiscal year 2021 was the Ultimate Ears WONDERBOOM 2, our small sized ruggedized portable Bluetooth wireless speaker.

During fiscal year 2021,our collection of portable bluetooth speakers included, WONDERBOOM, WONDERBOOM2, BOOM2, BOOM3, MEGABOOM,MEGABOOM3, MEGABLAST, BLAST, and our largest most powerful speaker HYPERBOOM that delivers the loudest and most rich audio performance in the portfolio.

Logitech International S.A.

| Fiscal 2021 Form 10-K | 7

Audio & Wearables:

Our Audio & Wearables category comprises PC speakers, PC headsets, in-ear headphones and premium wireless audio wearables designed to enhance the audio experience and studio-quality microphones for professionals and consumers.

Our Audio & Wearables category comprises PC speakers, PC headsets, Blue Microphones, in-ear headphones and premium wireless audio wearables designed to enhance the audio experience and studio-quality microphones for professionals and consumers.

We offer both the Jaybird wireless audio wearables for sports and active lifestyles and our custom in-ear headphones, made by Ultimate Ears.

Jaybird is a digitally native brand that pioneered the wireless in-ear headphone category and continues to be a leading brand in headphones made for athletes.

Designed for sport & IPX 7 rated, Jaybird’s Tarah Pro, Tarah, X4 and Run XT offer great sound with the durability that athletes demand.

Designed for sport & IPX 7 rated, Jaybird’s Flashship Vista wireless earbuds offer great sound with the durability that athletes demand.

All Jaybird products are accompanied by software supported on both Android and iOS that offers a rich personalized listening experience.

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Research and Development

We recognize that continued investment in product research and development (including design) is critical to facilitate innovation of new and improved products, technologies and experiences.

We recognize that continued investment in product research and development is critical to facilitate innovation of new and improved products, technologies and experiences.

Our research and development expenses for fiscal years 2021, 2020 and 2019 were $226.0 million, $177.6 million and $161.2 million, respectively.

Logitech International S.A.

| Fiscal 2020 Form 10-K | 8

We expect to continue to devote significant resources to research, development and design, including devices for digital platforms, video communications, wireless technologies, power management, user interfaces and device database management to sustain our competitive position.

We expect to continue to devote significant resources to research and development, including devices for digital platforms, video communications, wireless technologies, power management, user interfaces and device database management to sustain our competitive position.

Sales and Distribution

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Year Ended March 31,

2021 2020 2019

Americas $ 2,206,552 $ 1,286,527 $ 1,190,216

EMEA 1,735,682 941,211 861,731

Asia Pacific 1,310,045 748,113 736,375

Total Sales $ 5,252,279 $ 2,975,851 $ 2,788,322

Revenues from sales to customers in Switzerland, our home domicile, represented 3%, 4% and 3% of our sales in fiscal years 2021, 2020 and 2019, respectively.

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No other country represented more than 10% of our sales for fiscal years 2021, 2020 or 2019.

Logitech International S.A.

| Fiscal 2021 Form 10-K | 8

Sales and Distribution

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We support these channels with our direct sales force and third-party distribution centers located in North America, South America, Europe and Asia Pacific.

Major distributors in North America include Ingram Micro Inc., Tech Data Corporation, D&H Distributing Company, and Synnex Corporation.

In Europe, major Pan-European distributors include Ingram Micro, Tech Data, ALSO Group and DCC PLC.

We also sell to many regional distributors such as ASBISC Enterprises PLC, Littlebit Technology Partners AG in Switzerland, Copaco Dc B.V.

in the Netherlands and others.

In Asia, major distributors include Wincheers International Trading Co., Ltd in China, Beijing Digital China Limited in China, Daiwabo in Japan, Synnex in Australia and the Pan-Asian distributor, i.e.

Ingram Micro.

Our distributor customers typically resell products to retailers, value-added resellers, systems integrators and other distributors with whom Logitech does not have a direct relationship.

Logitech's products can be purchased in most major retail chains, where we typically have access to significant shelf space.

In the U.S., these chains include Best Buy, Walmart, Staples, Office Depot and Target.

In Europe, chains include Metro Group (Media-Saturn Group), Elkjop, FNAC, and Dixons Stores Group PLC.

Logitech also sells products to non-traditional retail channels such as telcos.

In addition, Logitech products can be purchased online either directly from Logitech.com or through e-tailers, such as Amazon.com, JD.com and the websites of our major retail chains noted previously, and others.

Logitech products are also carried by business-to-business direct market resellers such as CDW Corp, Insight Enterprise, Inc., Zones, LLC, PC Connection, Inc., and SHI International Corp.

Logitech International S.A.

| Fiscal 2020 Form 10-K | 9

In fiscal years 2020 , 2019 and 2018 , Ingram Micro and its affiliated entities together accounted for 12% , 13% and 15% of our gross sales, respectively.

Logitech's products can be purchased in a number of major retail chains, where we typically have access to significant shelf space.

In addition, Logitech products can be purchased online either directly or indirectly from Logitech.com or through e-tailers, the websites of our major retail chains, and others.

Logitech products are also carried by business-to-business direct market resellers.

In fiscal years 2021, 2020 and 2019, Ingram Micro Inc.

and its affiliated entities together accounted for 14%, 12% and 13% of our gross sales, respectively.

In fiscal years 2021, 2020 and 2019, Amazon Inc.

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No other customer individually accounted for more than 10% of our gross sales during fiscal years 2021, 2020 or 2019.

The material terms of our distribution agreements with Ingram Micro and its affiliated entities are summarized as follows:

The agreements are non-exclusive in the particular territory and contain no minimum purchase requirements.

Each agreement may be terminated for convenience at any time by either party.

Most agreements provide for termination on 30 days written notice from either party, with several Ingram Micro agreements providing for termination on 60 to 90 days notice.

We generally offer an allowance for marketing activities equal to a negotiated percentage of sales and volume rebates related to purchase volumes or sales of specific products to specified retailers.

These terms vary by agreement.

Agreements allow price protection credits to be issued for on-hand or in-transit new inventory if we, in our sole discretion, lower the price of the product.

We grant limited stock rotation return rights in certain territories.

The material terms of our reseller agreements with Amazon and its affiliated entities are summarized as follows:

Each agreement has a one year term followed by one-year automatic renewals.

We generally offer an allowance for marketing activities equal to a negotiated percentage of sales through transactions and additional rebates related to sales of specific products to end users.

These terms vary by agreement.

Agreements allow price protection credits to be issued for on-hand or in-transit new inventory if we, in our sole discretion, lower the price of the product.

Through our operating subsidiaries, we maintain marketing and channel support offices in approximately 40 countries.

In our experience, the amount of backlog at any particular fiscal period-end is not a meaningful indication of our future business prospects, as the cycle between order and shipment of our sales is generally relatively short, and also the backlog is impacted by the commercial cycle of our products.

Customer Service and Technical Support

Our customer service organization provides user technical support, support related to product inquiry, and order support.

We support these customer service functions with two outsourced operations that have support centers located in China, South Korea, India, the Philippines, Mexico, Bulgaria and Northern Ireland.

We support these customer service functions with two outsourced operations that have support centers located in China, South Korea, India, the Philippines, Mexico, the United States, and Bulgaria.

Our customer service and technical personnel in each of our regions provide support services to retail purchasers of products through telephone, e-mail, forums, chat, and the Logitech Support website.

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Within China, there is also a mail-in center to provide these services for more remote locations in China.

Logitech International S.A.

| Fiscal 2020 Form 10-K | 10

Manufacturing

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Both our in-house and outsourced manufacturing operations are managed by our worldwide operations group.

The worldwide operations group also supports the business units and marketing and sales organizations through the management of distribution centers and the supply chain and the provision of technical support and other services.

The worldwide operations group also supports the business units and marketing and sales organizations through the management of distribution centers and the supply chain and logistics networks.

New product launches, process engineering, commodities management, logistics, quality assurance, operations management and management of Logitech's contract manufacturers occur in China, Taiwan, Hong Kong, Malaysia, Vietnam and Thailand.

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In addition, some products, including most keyboards, certain gaming devices and certain audio products are manufactured by contract manufacturers to Logitech's specifications.

Logitech International S.A.

| Fiscal 2021 Form 10-K | 9

Our hybrid model of in-house manufacturing and contract manufacturers allows us to effectively respond to rapidly changing demand and leverage economies of scale.

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We also experience competition and pricing pressure for corded and cordless keyboard and combos from less-established brands, including house brands and local competitors in Asian markets, such as Shenzhen Rapoo, and Xiaomi.

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Our primary competitors for PC webcams are Microsoft and other manufacturers taking smaller market share such as Razer Inc.

Tablet & Other Accessories:

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Competitors in the tablet case market include Apple, Otter Products LLC, Speck Products and a large number of small brands.

Our primary competitors for PC webcams are Microsoft and other manufacturers taking smaller market share such as Razer Inc.

Competitors for our Gaming products include Razer, Corsair Components, Inc., SteelSeries, Turtle Beach Corporation and Kingston Technology Corporation, among others.

Competitors for our Gaming products include Razer, Corsair Components, Inc., SteelSeries, Turtle Beach Corporation and HyperX (recently announced to be acquired by HP Inc.), among others.

Video Collaboration

Our competitors for Video Collaboration products include Cisco Systems, Inc., Poly, Inc., GN Netcom/Jabra, and AVer Information Inc., among others.

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Mobile Speakers:

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If necessary or desirable, we may seek licenses for certain intellectual property rights.

Refer also to the discussion in Item 1A, Risk Factors—"We

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may be unable to protect our proprietary rights.

Refer also to the discussion in Item 1A "Risk Factors—"We may be unable to protect our proprietary rights.

Unauthorized use of our technology may result in the development of products that compete with our products." and "Claims by others that we infringe their proprietary technology could adversely affect our business."

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Environmental Regulation

We are subject to laws and regulations in many jurisdictions regulating the materials used in our products and, increasingly, product-related energy consumption, and the recycling of our products, batteries, and packaging.

In Europe, we are subject to the European Union's (EU's), Restriction of Use of Certain Hazardous Substances in Electrical and Electronics Equipment Directive 2011/65/EU (RoHS Directive).

This directive restricts the placement into the EU market of electrical and electronic equipment containing certain hazardous materials, including lead, mercury, cadmium, chromium, phthalates and halogenated flame-retardants.

All Logitech products are covered by the directive and have been modified, if necessary, to be compliant with the RoHS Directive, we issue a declaration of conformity and mark the product with the 'CE' mark.

We are also subject to the EU's Energy-related Products Directive (ErP Directive), which aims to encourage manufacturers and importers to produce products designed to minimize overall environmental impact.

We are subject to environmental regulations in a number of jurisdictions regulating our activities, products and operations.

Targeted Substances.

In Europe, we are subject to the European Union’s (EU) Restriction of Hazardous Substances (RoHS) in Electrical and Electronics Equipment Directive 2011/65/EU, as amended.

This directive

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restricts the use of certain hazardous substances in electrical and electronic equipment, including lead, mercury, cadmium, hexavalent chromium, phthalates and halogenated flame-retardants.

Similar legislation exists in other countries worldwide including but not limited to China, India, and South Korea.

We provide declarations of conformity and mark products, where required by law.

In Europe, we also are subject to the European Registration, Evaluation, Authorization, and Restrictions of Chemicals (REACH) Regulation.

REACH establishes procedures for collecting and assessing information on the properties and hazards of substances.

In addition, as part of the Waste Framework Directive (WFD) (2008/98/EC), the European Chemicals Agency (ECHA) has built a database for storing safe-use information for substances of very high concern (SVHCs) present in products placed on the market in the EU.

It is referred to as the Substances of Concern In articles, as such or in complex objects (Products) (SCIP) database.

Effective January 5, 2021, where we supply to the EU market products containing substances considered of very high concern (SVHCs) in a concentration above 0.1% weight by weight, we submit required substance information to European Chemicals Agency (ECHA).

In the U.S., Logitech products are regulated by California's Proposition 65, which requires that clear and reasonable warnings be given to consumers who are exposed to certain chemicals.

Logitech products containing composite wood are regulated under the Toxic Substances Control Act (TSCA), Title VI, including the formaldehyde and other substance restrictions set out in TSCA Title VI.

Stewardship :

In Europe, Logitech products are regulated by a number of end-of-life stewardship directives including the Waste Electrical and Electronic Equipment (WEEE) Directive, the Packaging Directive and the Battery Directive, which require producers of electrical goods, packaging, and batteries to finance the collection, recycling, treatment and disposal of relevant products.

Similar legislation exists in many countries worldwide.

Conflict Minerals:

Sourcing of certain metals is regulated under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, specifically Section 1502, which addresses the use of "Conflict Minerals" in the supply chain.

Similar legislation is emerging in other countries worldwide.

We have established systems which facilitate our compliance with the sourcing, traceability and reporting obligations and the reporting requirements of this Act aligned with guidelines published by the Securities and Exchange Commission.

As a member of the Responsible Business Alliance (RBA) and the Responsible Minerals Initiative (RMI), we participate in the industry-wide Conflict-Free Sourcing Initiative and its Conflict-Free Smelter Program by which our legal requirements are met.

Modern Slavery :

Our commitment to combat slavery and human trafficking is underpinned by the Transparency in Supply Chain Act of 2010 (S.B.

657), the United Kingdom Modern Slavery Act of 2015, the California Transparency in Supply Chains Act of 2010, the Australian Modern Slavery Act of 2018 and exiting or emerging similar legislation worldwide.

We utilize our adherence to the RBA code of conduct and transparently report our programs to identify and eradicate slavery and human trafficking in global supply chains.

Climate & Carbon:

Our operations, supply chain and products are not currently subject to carbon pricing or other legally required carbon taxation or penalties.

We have made a voluntary adherence to the Paris Accord international agreement for climate action and we have developed and adopted the principle of Carbon Transparency to catalyze reductions in our corporate carbon footprint, uptake of renewable power and materials and our journey to net zero.

With our annual Sustainability Report and Carbon Disclosure Project reports, we report progress, risks and opportunities around climate and carbon.

In Europe, our products are subject to the EU's Energy-related Products Directive (ErP Directive), which aims to encourage manufacturers and importers to produce products designed to minimize overall environmental impact.

Under the ErP Directive, manufacturers must ensure that their energy-related products comply with applicable requirements, issue a declaration of conformity and mark the product with the 'CE' mark.

We have assessed the applicability and implementation of the applicable measures on our relevant product lines and have taken steps to ensure that our products meet the requirements.

Adoption of the ErP Directive will be aligned in all EU member states.

We have taken steps to ensure that our products meet the requirements.

Similar requirements exist in the four member states of the European Free Trade Association (Iceland, Norway, Liechtenstein and Switzerland).

Such requirements are substantially met by compliance with the ErP Directive.

We are also subject to a number of End of Life Stewardship directives including the EU's Waste Electrical and Electronic Equipment Directive, the EU Packaging Directive and the EU Battery Directive, which require producers of electrical goods, packaging, and batteries to be financially responsible for costs of specified collection, recycling, treatment and disposal of covered products.

Where applicable, we have provided for the estimated costs, which are not material, of managing and recycling historical and future waste equipment, packaging and batteries.

We are also subject to the European REACH Directive (Regulation (EC) No.

1907/2006 for Registration, Evaluation, Authorization, and Restrictions of Chemicals) (REACH Directive) and we have taken steps to ensure that our relevant product lines are compliant with the applicable provision of the REACH Directive.

In China, we are subject to China's laws on Management Methods on the Control of Pollution Caused by Electronic Information Products (the China RoHS laws).

The China RoHS laws are substantially similar to the EU RoHS Directive, and as such, our products are already compliant.

The China RoHS laws require additional labeling of products that will be shipped to China and we have taken steps to ensure we comply with these requirements.

United States and Canada.

In the U.S., we are subject to, among other laws, the Appliance Efficiency Regulations adopted under the U.S.

In the U.S., our products are subject to, among other laws, the Appliance Efficiency Regulations adopted under the U.S.

Energy Independence and Security Act of 2007.

The regulations set out standards for the energy consumption performance of products and such standards apply to appliances sold or offered for sale throughout the U.S.

We have redesigned or changed certain of our products to ensure compliance with these regulations.

We are also subject to California's Proposition 65, which requires that clear and reasonable warnings be given to consumers who are exposed to certain chemicals deemed by the state of California to be dangerous.

In addition, our Electronic and Electrical Equipment (EEE) containing composite wood covered under the Toxic Substances Control Act (TSCA), Title VI and offered for sale in the United States complies with the formaldehyde substance restrictions set out in TSCA Title VI.

Logitech is also subject to the requirement as set out by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, specifically Section 1502, which addresses the use of "Conflict Minerals" in the supply chain.

We have established systems which facilitate our compliance with the sourcing, traceability and reporting

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obligations and the reporting requirements of this Act aligned with guidelines published by the Securities and Exchange Commission.

As a member of the Responsible Business Alliance or RBA (formerly the EICC) and the Responsible Minerals Initiative, we participate in the industry-wide Conflict-Free Sourcing Initiative and its Conflict-Free Smelter Program by which these requirements are met.

In addition, the Transparency in Supply Chain Act of 2010 (S.B.

657) is effective from Logitech's fiscal year 2012.

The law requires all retailers and manufacturers of tangible products who do business in California and have annual worldwide gross receipts exceeding $100 million to disclose on their company websites their efforts to combat forced labor and human trafficking in their own supply chains.

Similarly, Logitech complies with the requirements of the United Kingdom Modern Slavery Act of 2015 requiring certain commercial organizations to transparently report their efforts to identify and eradicate slavery and human trafficking in their supply chain.

Further information is provided in our annual Sustainability Report and Logitech's disclosure posted on our website, www.logitech.com.

We are subject to laws in various Canadian provinces and U.S.

states that impose fees to cover the cost of end-of-life responsible disposal and recycling of packaging, product, and batteries.

These laws require producers of electrical goods, packaging, and batteries to be financially responsible for costs of specified collection, recycling, treatment and disposal of covered products.

Where applicable, we have provided for the estimated costs, which are not material, of managing and recycling historical and future waste equipment, packaging, and batteries.

In India, we are subject to Schedule – I of the India E-Waste Management Rules, 2016 on Electronic and Electrical Equipment (EEE) being offered for sale to comply with the substance restrictions defined in sub rule (1) of Chapter V, Section 16 of said rules.

Our RoHS Management Program was established in 2002 to ensure compliance with EU RoHS initially and this program along with our hazardous substance management capabilities assures Logitech of compliance to these requirements for all applicable products worldwide.

Australia and New Zealand.

In Australia and New Zealand, we are subject to the Minimum Energy Performance Standards regulations (MEPS).

These regulations set out standards for the energy consumption performance of products within the scope of the regulations, which includes some of our products.

We have taken steps to modify products to ensure they are in compliance with MEPS.

We expect further laws governing product and packaging recycling to be introduced in other jurisdictions, many or most of which could impose fees to cover recycling costs, the cumulative impact of which could be significant.

If such legislation is enacted in other countries, Logitech intends to develop compliance programs as necessary.

However, until that time, we are not able to estimate any possible impact.

The effects on Logitech's business of complying with other government regulations are limited to the cost of agency fees and testing, as well as the time required to obtain agency approvals.

The effects on Logitech's business of complying with environmental regulations are limited to the cost of agency fees and testing, as well as the time required to obtain agency approvals.

There are also stewardship costs associated with the end-of-life collection, recycling and recovery of Logitech products, packaging and batteries where Logitech is recognized as the steward and participates in relevant programs.

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We joined the RBA (formerly EICC) in 2007 to collaborate with industry peers to drive international good practice across the electronics sector.

Since 2007, we have fully adopted the RBA Code of Conduct, and we publish an annual Sustainability Report in alignment with the good practice standards of the Global Reporting Initiative.

Since 2007, we have fully adopted the RBA Code of Conduct, and we publish an annual Sustainability Report in alignment with the good practice standards of the Global Reporting Initiative (GRI).

For more information on our approach to sustainability management, RBA Code of Conduct compliance and international good practice, refer to our annual Sustainability Report, which is available from the sustainability page on www.logitech.com.

Other Government Regulations

We conduct operations in a number of countries and we are subject to a variety of laws and regulations which vary from country to country.

Such laws and regulations include, in addition to environmental regulations described above, tax, import/export and anti-corruption laws, varying accounting, auditing and financial reporting standards, import or export restrictions or licensing requirements, trade protection measures, custom duties, tariffs, import or export duties, and other trade barriers, restrictions and regulations.

While we incur increasing costs to comply with such other government regulations, we do not believe that our compliance with such requirements will have a material adverse effect on our competitive position, consolidated results of operations or cash flows.

For more information about such regulations and how they may impact us, see "Risks Related to our Global Operations and Regulatory Environment" in Item 1A "Risk Factors" and Note 7—Income Taxes in our Notes to consolidated financial statements below.

Our product sales are typically seasonal.

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Due to the timing of our new product introductions, which could occur at any point during the fiscal year, we believe that year-over-year comparisons are more indicative of variability in our results of operations than the current quarter to prior quarter comparisons.

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We purchase certain products and key components used in our products from a limited number of sources.

If the supply of these products or key components, such as micro-controllers and optical sensors, were to be delayed or constrained, or if one or more of our single-source suppliers go out of business, we might be unable to find a new supplier on acceptable terms, or at all, and our shipments to our customers could be delayed, potentially resulting in lost revenue, market presence and market share.

If the supply of these products or key components, such as micro-controllers and optical sensors, were to be delayed or constrained, or more recently, impacted by global shortages of semiconductor chips, or if one or more of our single-source suppliers go out of business, we might be unable to find a new supplier on acceptable terms, or at all, and our shipments to our customers could be delayed, potentially resulting in lost revenue, market presence and market share.

In addition, lead times for materials, components, and products ordered by us or by our contract manufacturers can vary significantly and depend on factors such as contract terms, demand for a component, our ability to forecast product demand, and supplier capacity.

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Shortages or interruptions in the supply of components or subcontracted products, or our inability to procure these components or products from alternate sources at acceptable prices in a timely manner, could delay shipment of our products or increase our production costs.

As of March 31, 2020 , we employed approximately 6,600 regular employees, of which approximately 3,000 employees are in our Suzhou manufacturing facilities, and from the remaining 3,600 regular employees, approximately 800 are dedicated to research and development.

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Human Capital Resources

As of March 31, 2021, we employed approximately 9,000 employees, of which approximately 4,800 employees are in our Suzhou manufacturing facilities, and from the remaining 4,200 employees, approximately 980 are dedicated to research and development.

None of Logitech's U.S.

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We believe that our employee relations are good.

Executive Officers of the Registrant

We rely on different programs and initiatives to support our goals.

Some of our key human capital management programs are summarized below.

Diversity and Inclusion

We believe that reflecting the diverse world in which we live - through our people and by fostering an inclusive culture - provides us with the foundation needed to create experiences that enable all people to pursue their passions, which is our corporate purpose.

Our employees are located across North and South America, EMEA (Europe, Middle East and Africa) and Asia-Pacific and bring a range of perspectives and skills to Logitech.

As of March 31, 2021,48% of our office employees were located in Asia-Pacific, 30% in the Americas, and 22% in EMEA (Europe, Middle East and Africa).

As of March 31, 2021 females represented 36% of our global office employees, 28% of our manufacturing workforce, and 32% were in managerial roles.

In the U.S., underrepresented minorities (defined as Black or African American, Asian, Hispanic or Latino, American Indian or Alaska Native, and Native Hawaiian or Other Pacific Islander) represented 46% of our workforce, and 40% were in managerial roles.

To foster a more inclusive environment, we offer training sessions to emphasize awareness of self, bias and privilege, and inclusion.

In addition, to measure our employees’ satisfaction at Logitech, we distribute a bi-annual employee engagement survey.

Most recently, we conducted a survey in December 2020, in which 79% of our global office employees participated.

As part of the survey, employees provided weighted feedback on their experience at Logitech, on measures such as happiness, retention and their perspective on our current state of workplace inclusivity at Logitech.

Safety, Health and Well-being

We look to safeguard the safety, health and well-being of all members of the Logitech team.

We implement training and communication programs across the business each year to ensure employee awareness of the importance of health and safety management and our key programs and provisions.

To help us ensure the safety, health and well-being of employees at our production facility in Suzhou, China, we follow the Responsible Business Alliance (RBA) Code of Conduct and have an Environmental, Health and Safety (EHS) Management System that is certified to ISO 14001 and ISO 45001.

We implement the RBA Code as a full supply chain initiative.

Further, we operate an audit and verification program to verify compliance with the RBA code.

We believe health and well-being are critical to our employee’s personal and professional success and provide, in addition to healthcare benefits, wellness tools, resources and programs designed to help employees achieve good physical, financial, emotional, intellectual and social well-being.

Further, we manage the impact of COVID-19 under the guidance of our Corporate Crisis Management Team and in collaboration with our local site leaders and provide regular updates to our board of directors on our actions.

In early 2020, as a result of COVID-19, we quarantined employees in accordance with local regulations and re-engineered our manufacturing operations with diminished capacity.

Actions taken at our campus in Suzhou, China, that includes our production facility, our office and employee dormitories have included screening everyone at campus entrances for fever and signs of illness, requiring masks, increasing hygiene measures, and implementing protocols to address actual and suspected COVID-19 cases and potential exposure.

At the same time, as a result of government orders and concern for the well-being of our employees and their families, we have required substantially all of our employees in non-manufacturing facilities to work remotely.

In Asia, most of our offices reopened in 2020, as and where permitted by local regulations.

We are regularly evaluating the local COVID-19 infection rate as a key metric for when we begin to gradually reopen an office.

To support our employees during the pandemic, we offered and continue to offer additional benefits, including a partial internet reimbursement, work-from-home equipment contribution, and increased flexibility in our leave programs to support employees caring for children and others.

We did not implement layoffs or furloughs as a result of the COVID-19 pandemic, including during mandatory shelter-in-place orders instituted in many locations in which we operate.

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Talent Acquisition and Development

Our geographic diversity gives Logitech an excellent foundation to recruit diverse talent from around the world.

We believe that the entire talent process must be executed through a lens of equity and inclusion.

We provide learning and development tools and resources to all our employees through our key programs.

Our talent development program includes a dedicated training center at our production facility, a number of workshop-based, leadership development, mentorship, coaching career development and team building programs that remain available remotely.

Information About Our Executive Officers.

The following sets forth certain information regarding our executive officers as of May 12, 2021:

Bracken Darrell

Name Age Nationality Position

Bracken Darrell 58 U.S.

President and Chief Executive Officer

Nate Olmstead **

Nate Olmstead 49 U.S.

Chief Financial Officer

Prakash Arunkundrum*

Head of Global Operations

* On May 27, 2020, Logitech designated Mr.

Arunkundrum as an Executive Officer and a member of its Group Management Team.

** Effective as of June 1, 2019, Logitech appointed Mr.

Olmstead as interim Chief Financial Officer.

On July 22, 2019, Logitech appointed Mr.

Olmstead as full-time Chief Financial Officer.

Prakash Arunkundrum 46 U.S.

Head of Global Operations & Sustainability

Samantha Harnett 45 U.S.

General Counsel

Bracken Darrell joined Logitech as President in April 2012 and became Chief Executive Officer in January 2013.

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Olmstead holds a BA degree from Stanford University and an MBA from Harvard University.

Prakash Arunkundrum is Logitech’s Head of Global Operations, a position he has held since May 2018.

Prakash Arunkundrum is Logitech’s Head of Global Operations & Sustainability, a position he has held since May 2018.

He joined Logitech in 2015 and held operations positions as Vice President New Product Introductions & Strategic Initiatives from August 2015 to July 2016 and Vice President Global Sourcing and New Product Introductions from July 2016 to May 2018.

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Arunkundrum was a Principal at A.T.

Kearney, a global

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management consulting firm, from July 2014 to August 2015.

Kearney, a global management consulting firm, from July 2014 to August 2015.

He also served as Director, Management Consulting at PricewaterhouseCoopers, a multinational professional services network of firms, from September 2011 to July 2014 and Principal at PRTM Management Consultants LLC, a management consulting firm acquired by PricewaterhouseCoopers, from March 2010 to September 2011.

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Arunkundrum holds a BTech degree in Chemical Engineering from Central ElectroChemical Research Institute (CECRI) in Karaikudi, India and a Master of Science in Materials Engineering from University of Maryland at College Park.

Samantha Harnett joined Logitech as General Counsel in June 2020.

Prior to joining Logitech, Ms.

Harnett served in various legal and management roles at Eventbrite, Inc., a global self-service ticketing and experience technology platform, most recently as Chief Legal and Operations Officer from October 2019 to June 2020.

While at Eventbrite, she also served as Senior Vice President, General Counsel from May 2018 to October 2019 and Vice President, General Counsel from November 2015 to May 2018.

From March 2005 to November 2015, Ms.

Harnett served in various positions at ZipRealty, Inc., a real estate technology and online brokerage company, including most recently as General Counsel and Senior Vice President of Business Development from October 2009 to

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November 2015.

She also served as an associate at Wilson Sonsini Goodrich and Rosati, P.C.

Harnett holds a BA degree from California State University, Chico and a JD from Santa Clara University School of Law.

Available Information

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business