The box, which enables users to surf the web while in the living room, now costs $99 in the US, down from $249.
This new price is lesser in value than the production expenses of Logitech, meaning they are now facing a $34m write-off as a result.
The company said the price cut will “remove price as barrier to broad consumer acceptance”. They are also hoping for software updates later this year that would give Google TV devices access to apps from the Android Marketplace.
Logitech chairman Guerrino De Luca said in a conference call, “We launched Revue with the expectation that it would generate significant sales growth in spite of a relatively high price point and the newness of both the smart TV category and the underlying platform.”
“In hindsight, there are number of things we should have done differently.”
The first Google TV hardware to launch was Revue, which was released in October 2011. It followed the glitzy launch of Google for the “smart TV” system in May.
Logitech’s flop has led commentators to wonder whether Google TV will ever take off. Internet-capable TVs are seen as a main battleground for the technology industry in upcoming years, and Google faces competition from Apple, Microsoft and YouView, among others.