Alphabet wants a bigger share of the connected home market. Google last year launched new smart home products, but the company’s next move is a new, cheaper Nest.
According to sources cited in Bloomberg, a thermostat is being developed that would feature Nest’s signature learning feature but carry a price tag below $200. The current version starts at $250.
Nest also plans to expand its product portfolio beyond the thermostat, according to Bloomberg, adding a digital doorbell and home-security alarm system. The company also intends to update its indoor security camera.
However, the new Nest and its accompanying products may not be ready for launch until next year, the sources noted.
Google acquired Nest in 2014 for $3.2 billion.