Lowes "Iris" is done.
Nearly seven years since announcing it was entering smarthomes as we covered in: Lowes Selling Alarms Direct, the company recently announced plans to exit the market. In this Q3 Sales announcement, Lowes states:
At the time of our post, we noted potential disruption to incumbent alarms that Iris did not significantly capitalize on:
If Lowe's should sell this equipment directly to end users, with free or even low-cost monitoring service, many DIY-prone homeowners may decide to go this route, disrupting revenue streams of incumbent vendors.
However, since that time, the RMR-centric incumbent alarms market has been significantly disrupted by similar offerings, namely Amazon Ring Alarm System, Simplisafe DIY Alarms, Nest Secure Alarm, and so on.
Specifically, Amazon/Ring has adopted the low-cost monthly service piece, as covered in Ring Partners With Rapid Response For $10 Monitoring.