Apple has the gadgets it needs to find its way home
Aggressive pricing strategy is a clear signal that iPhone maker sees room for itself in the smart-home market
Apple might be the world’s most valuable company, with a market capitalisation close to $2-trillion, but it remains an underdog in the smart-home business.
Its rival, Google, commands a 30.9% market share, while Amazon has 53%, according to smart speaker news site VoiceBot. By comparison, Apple has 2.8% - beaten by Sonos, a far smaller but more specialised firm, with 4.7%.
It is a rare area of failure for Tim Cook’s company, which has enjoyed success in everything from smartphones and watches to fitness and music streaming. If it can crack smart homes, that will represent a huge area of growth for the tech giant. According to TechUK, revenue from the global smart-home market is expected to reach £70bn this year and £158bn by 2024. But right now, Amazon and Google are eating Apple’s lunch. That could be about to change following Tuesday’s unveiling for the HomePod Mini, a Siri-powered smart speaker that is set to help Apple expand its reach into the home...