Calling it a gigantic mistake, Logitech is killing its Google TV Revue product.

Logitech RevueLogitech calculates that mistake cost it more than $100 million in operating profit in the year since the product was introduced. The company made its remarks during a widely reported discussion with financial analysts.

Logitech CEO Guerrino De Luca called the 2010 launch of the product "a mistake of implementation of a gigantic nature." De Luca confessed to mistakes with the Revue that ranged from bad strategy to over-production to bad marketing.

At $300, the set-top box was more expensive than similar products from Apple, Roku, Sony and Western Digital.

But for all Logitech’s missteps, Google TV was poorly conceived and executed, issues that are as much Google’s fault as Logitech’s.

Google simply failed to take care of the content side of things. Reviewers said the interface with Netflix – easily the most popular over-the-top video source – was awkward. Hulu actually blocked access via Google TV.

Logitech has no plans for any subsequent Google TV products.

Google apparently remains intent on figuring out a way to get into the pay-TV business, but with one of its most prominent Google TV partners – Logitech – bailing out, that will be more difficult.