LG Acquires Home Automation Firm Homey
Consumer electronics company LG has acquired an 80% stake in Athom, a Dutch firm which owns the smart home platform Homey. LG is expected to acquire the remaining 20% of Athom over the next three years. With the Homey Pro smart home hub, Homey has built a sizeable user base, supporting well known connected brands like Sonos, Ikea, Aqara, and Philips Hue. Homey will reportedly continue as an independent company and retain its branding and current operations.
The Circana Take:
- LG’s acquisition of the Homey platform will help the company compete more fully in the connected home market and incorporate its LG ThinQ technology into more products. This move is similar to Samsung’s acquisition of SmartThings in 2014 which has enabled Samsung to embed multi device connectivity support across its product lines.
- While the utility of smart appliances continues to evolve, LG’s appliance business stands to benefit as well by connecting to more products and services- particularly as AI becomes a growing piece of the connected home experience.
Amazon Shuts Down Astro Robot for Business
According to a memo released last week, Amazon has decided to wind down its Astro Robotics for Business operation in order to focus on consumer robotics for the home. Astro is Amazon’s security-focused Alexa powered robot; the enterprise device was designed for small and medium sized businesses. Enterprise features included security routes (for patrolling a sales or warehouse floor for instance) and alerts in the event the robot hears glass breaking or CO detection.
The Circana Take:
- Though Amazon has decided to sunset Astro for business, the robotics field continues to evolve quickly, and the company is likely re-evaluating its product offerings for enterprise customers.
- While Astro for consumers continues as a product, new features and customer needs are likely changing the roadmap for businesses. The additions to the Alexa product and business plan will possibly impact the evolution of Astro.