Credit: Shutterstock photoGoogle Inc. 's GOOGL Nest Labs has finally launched Nest Cam, a wireless home security camera at a press conference in San Francisco. The news of the impending launch was earlier leaked by U.S. website Droid-Life. Nest Cam is now available for purchase for $199 and shipments will start next week.
Introducing the Nest Cam
Nest Cam is the first product that Nest Labs launched since its acquisition by Google for $3.2 billion in January last year. Nest Labs has thus far made simple and aesthetically pleasing hardware, software and services like the Nest Learning Thermostat, Nest Energy Services and Nest Protect: Smoke + Carbon Monoxide alarm.
Nest Labs acquired Dropcam in June last year for $555 million. Nest Cam is basically the new, improved edition of the Dropcam camera but is sleeker and aesthetically more pleasing. It can be easily set up and placed anywhere in the house so users can keep an eye on their property while they are away through smartphone apps.
Specs
It uses a zinc alloy stand to make it stronger and more flexible. It has a magnet at the base so it can be wall-mounted or attached to a fridge, a tripod stand so that it can be positioned anywhere and a camera that can rotate.
The Nest Cam has 1080p high-definition video quality compared to Dropcam's 720p and also offers better night vision. It consists of eight infrared LEDs, which offer improved motion sensing in the dark.
It also has enhanced audio capabilities with a microphone and speaker and can be used as a walkie-talkie. For instance, if users see though the Nest Cam stream that there is a dog on the sofa, then they can tell the dog to get off by speaking into Nest's app.
Users can also set activity zones to get notifications if there is action and people in a specific zone. Users can combine Nest Cams and older Dropcams at home and they'll both show in the just designed Nest app for iOS and Android.
Nest is selling a subscription service called Nest Aware for $10 per month for the first camera.Nest aware is the web service that will allow users to store their video streaming history for elongated periods of time.
What Else Is Nest Offering?
Apart from the Nest Cam, Nest launched a new program called Nest Safety Rewards for which it is partnering with home insurance companies like Liberty Mutual and American Family. The new program will give Nest customers a discount so that they can save up to 5% per annum on insurance premiums.
It also released the second-generation Nest Protect and upgraded software for the smart thermostat, which will improve interaction between the thermostat and the smoke alarm. It also launched a new app to make product integration more flawless.
Benefits for Google
The pouring of more resources into Nest's product lineup adds to Google's existing efforts in the "Internet of Things" (IoT), particularly with respect to the connected home. This comes at just the right time because consumer appliances and Internet services are getting increasingly interconnected.
There is significant competition in the market however, given that Apple Inc. AAPL recently launched its HomeKit, which also helps to control household things like garage doors remotely. Samsung is also a recent entrant into the segment.
Google has a Zacks Rank #3 (Hold). Better-ranked stocks in the sector include Synacor, Inc. SYNC and PetMed Express, Inc. PETS , both sporting a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
