Google's Nest Is Working On A New Line Of Cheaper Products

Alphabet Inc GOOG GOOGL's Nest unit is working on a new line of cheaper thermostats and home security products, according to a Bloomberg report. Bloomberg, citing a source familiar with the matter, noted that Nest, a "smart" home automation company acquired by Alphabet (then Google) in 2014, is now developing a thermostat that is able to adjust a home's temperature automatically based on prior usage patterns. The price tag on the new product is expected to be below $200 which marks a price drop from its current products that sells for $249. The lower price tag reflects less expensive components and the flagship models' metallic edges. It could be launched by next year and consumers will also be able to buy remote sensors that let users control the temperature of one single room as opposed to the entire house.

New Home Security Products

Nest is also reportedly working on a new home security alarm system which consists of a central hub with a keypad and fob that will enable and disable the alarm. Consumers will then have the option of putting censors on windows and doors for a complete end-to-end home security alarm solution. In addition, a new version of Nest's indoor security camera is being developed. The company launched its first generation security camera with technology that Nest and its parent company Alphabet acquired from Dropcam. Related Link: Investors Are Overrating This 'Clueless' Google Exec's Abilities Related Link: Google's Next Step To Control Your Smart Home