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Lowe’s is officially pulling the plug on Iris, its line of smart home products and security systems, tech news website CNET reports.
Lowe’s sent an email to Iris users informing them their devices will no longer work as of March 31, according to the article.
The big-box retailer first announced plans to discontinue the Iris endeavor in its third-quarter 2018 financial report. At the time, the company said Iris represented “non-core activities within its U.S. home improvement business.” The company said the decision was aimed at “improving profitability.”
On Iris’s official website, the company apologizes for any inconvenience and asks customers not to return Iris products to Lowe’s locations.
Instead, Iris says it will initiate an online redemption process that “will allow customers who have eligible, connected Iris devices to receive a Visa prepaid card to help migrate to another smart home platform.”
In an article from Forbes, research from market analysis firm Statista shows that by the end of 2018, “more than 45 million smart home devices will be installed in U.S. homes.” Be sure your operation is keeping up with the latest trends by reviewing 10 smart home products to sell.
