In what looks like the death knell for version 1 of the Google TV platform, Logitech are dropping the price of their Revue set-top box from $299 to $99. The drop in price is said to be happening sometime this quarter according to Logitech.

Google TV was launched in a blaze of glory with the Logitech Revue in October 2010. The system promised a marriage of web and TV content along with on-demand video, but problems befell the system soon after. A lack of content, complicated software and bug ridden were just some of the complaints.

Within a couple of months Logitech had to deny reports that it had stopped production of the Revue, and were quoted as saying, “We at Logitech are enthusiastic about Google TV and our role in bringing this new platform to US consumers.”

Talking about the drop in price, Logitech said, “We believe that this action will remove price as a meaningful barrier to broad consumer acceptance.” In other words, nobody is buying at the higher price point.

However, it does not seem to be the end of Google TV, A spokeswoman said search engine monolith will still be pursuing TV projects, saying, “It’s still early days for smart TVs and we’re investing to continue to bring innovation and progress for our partners and users.”

They are known to be working on the next generation of the Google TV system which is due for release later this year, and with an Android TV OS in the works there must still be life in the old dog. But with a first quarter operating loss of $45 million, that will be scant consilation for Logitech.

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