Logitech, a global provider of personal peripherals for computers and other digital platforms,  is giving up on its Logitech Revue companion box, taking into consideration that the Google TV device has caused Logitech to spend more than $100 million in operating profits.

The Revue is a set top box used by Google TV in delivering entertainment and gaming applications.  The failure of Revue to bring high sales has partly contributed to Logitech board’s prompt firing of former CEO Gerald Quidlen.

According to Guerrino De Luca, Logitech’s present CEO, the Company has made a mistake in the implementation of the Revue.  Furthermore, he has also predicted that the “grandchild of Google TV” might be successful, unlike the current product.

“To make the long story short, we thought we had invented sliced bread, and we just made them,” De Luca said during the analyst day, according to transcription notes provided by Seeking Alpha. “We just built a lot because we expected everybody to line up for Christmas and buy these boxes for $300, and that was a big mistake.”

So how will this decision affect the current users of Logitech Revue?  According to Google, Revue will continue to receive the Google TV 2.0 Honeycomb 3.1 upgrade.   Moreover, users will still get customer support for the set top boxes and automatic, free updates to the Google software, as shared by Logitech’s spokeswoman Rose Maciejewskie.  She also noted that Logitech is “optimistic about the long-term opportunity for the Google TV platform and the potential for Logitech to offer associated products as the ecosystem evolves.”

“Logitech has been a good partner in the early days of Google TV, and the feedback from Revue users has been very important for the design of the new version of Google TV announced two weeks ago,” a Google spokesperson said. “We’re excited about new partnerships with new chipset vendors and new hardware manufacturers which we will announce at a later date. These partnerships will help power the next generation of Google TV devices in 2012.”

On the contrary, not everyone has turned its back on Google.  In fact, LG Electronics, the world’s second largest TV manufacturer, may unveil a TV with Google software in Las Vegas during the Consumer Electronics Show.   Also, Samsung is discussions with Google to develop a TV product.

With all of Google’s acquisitions and other TV-related developments, this move by Logitech will have a very slight impact on its overall performance.  However, after all that has been said and done, analysts still believe that Google deserves an apology from Logitech.

“Google can’t be right all of the time. For every Android hit, there will be a Google TV that stumbles out of the gate. However, it’s hard to blame Logitech for walking away as it licks its wounds. It’s hard to argue with De Luca’s painful assessment. Google owes Logitech an apology, though what would be even better is it finally takes Google TV to the next level to make Logitech regret that it ever left.” says Rick Munarriz, an analyst.