At a meeting with investors yesterday, Logitech’s CEO Guerrino De Luca didn’t hold back while talking about how Google TV has affected their business. Luca said that Google TV ‘cost us dearly’, and that developing the set-top box was a mistake. He also dropped the bomb that Logitech will be letting their supply of Revues run out this quarter and won’t develop any more or be manufacturing a follow-up device either. Ouch.

Luca does believe, however, Google TV has a chance sometime in the future, but said it needs some work. He went as far as saying Google TV is currently like a beta.

Even with the recent 3.1 update, we’re going to have to side with Luca on this one. Google TV is still missing many key features to disrupt the television industry. It’s going to take more innovation, content deals, and devices to get the ball rolling. (via The Verge)