Alphabet Reveals Nest Losses and Its Own Smart Home Commitment
Nest, the company that has revolutionized the market for smart thermostats, suffered losses of around US$621 million in 2017. The losses, which could be derived from reporting changes by Nest’s parent company Alphabet, are a key financial indication of the company’s performance and they reflect the cost of an ongoing strategy to expand Nest’s smart home offerings. This expansion aims not only to build on the appeal of legacy Nest products but also to tie them more closely to Google technology. It is a move that matches plays from key smart home rival Amazon, and the results emphasize the scale of ongoing investment into the smart home market.
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