Fallout From Nest's Revolv Debacle Could Hurt Smart Home Technology Adoption
William Craig for The Street: Consumers who are considering whether to purchase smart home technology are likely to be turned off by recent controversy about the Revolv device, and companies involved in the so-calledInternet of Things need to consider how this event will affect adoption of their technology.
In case you missed it, here's what happened. Revolv was a start-up that made an electronic hub that allowed users to control lights and appliances in their homes using a smartphone app. Alphabet's (GOOGL - Get Report) Nest bought Revolv in October 2014. Next month, it will shut down the cloud-based service necessary for the Revolv devices to function. People who plunked down the $300 to buy a Revolv will be left with a very expensive paperweight. It's one thing to end support and updates, but this is a complete shutdown of a product people paid for.
To add further insult to consumers, buyers of the Revolv smart home hub were offered a lifetime subscription when the product first came out. The Revolv device stopped being sold two years ago after Nest acquired Revolv. While it makes sense to cut off services to an obsolete product that isn't bringing in money, this is a troubling sign from the fledgling smart home industry. Cont'd...
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