Computer peripheral maker Logitech made a big bet on Google TV. Hoping get a first-mover advantage in Google's smart TV technology, Logitech introduced the its Revue in 2010, hoping the next-generation set-top box with Internet video support would be a big hit.
It wasn't. Logitech expected the Revue to be a big seller for the holiday season last year, but the product bombed. The Revue's failure was one of several miscues that caused Logitech President and CEO Gerald Quindlen to step down in July. In the end, the Revue cost Logitech more than $100 million in operating profits, leading to the company shutting down the Revue for good. Acting Logitech President and CEO Guerrino De Luca recently described the company's Google TV experiment "a big mistake" that "cost us dearly." While De Luca said he still believes in Google TV, he said Logitech bet too much on the technology with the idea that the market would take off overnight – which it obviously didn't.