Disruptor Wyze Releases Undisruptive Smartlock
While Wyze has disrupted the consumer IP camera market with ~$20 cameras, its entrance into smart locks is entirely undisruptive.
We have reported on the rise of Wyze in the past year, including 'big box' retail displays, selling more than 1 million cameras in their first year, entering the alarm sensor market, and notably impressive video analytics that was recently terminated.
Inside this note, we contrast Wyze's new lock offering to incumbents like August, Kwikset, Lockitron, and Yale showing why it is not disruptive.
Wyze **** ********
****'* ********* ***** ******** *** *********** story *** ***** ** *** *** offering:
Uses ****** '******* *********' ******
******* ******** ** ** * **** that ** '********* **** **** ** ******* *** there', *** **** **** ** **** similar ** ***** ***** *****.
*** **** **** * ****** *********, battery-powered, ***-********* ********* **** **** ***** smart ***** *** ** ****. *** image ***** ******** *** *** **** lock ******* ******* ****** **** *** in ******* **********:
**** ***** '***** ****' ********, **** lock ****** ******* ** **** *** an ***, *** *** ****** ****** uses **** ** *** ** *********** user ********.
*** **** **** ***/***** ******** ** trigger **** ** ****** ****** *** geofencing, *** ** ********** *** ****** is ********* *** *** ******** ** apps ** **** *** *** *********.
Retrofit **** ******** ********
*** *** **** ' * ** batteries *** *** ******', ******* *** ******* ***** ********* ** existing ************ ******* **** ******** *** ****** portion ** *** ****:
**** **** ***** ********, **** **** alone ** *** *** **** ** required ** ****** * ****, *** the ******* ******* ** **** ****** to ******* ******** '****', *********** *****.
********, ** ******** ******** *** ***-********, like**** *** ********* **** ***/******* ********, *** **** lock **** ******* ** ******* *** problems, *** **** ***** **** **** other *******/******** ** ***.
Pricing *** **********
**** *** ********* ******* ******** **** significantly ***** ****** **** *********** -$** *******,$* ****** *******, ***.
*******, ******* **** ** ~$**. ***** *** **** ** ***** the **** ********* *********, ** ** not ***** ** ***** ****** *********** less ********* **** *********** ********.
*** ****** ***** ******* ******* ********* illustrate *** *********** ******* *** $** Wyze **** *** ***** *********** ***** lock ******:
Unremarkable **** ********
*** ***** *************** ** ****'* **** are ******* ********* ** ***** ********, specifically:
- ******:**** ******* *** * ****** ******* either ********** ** ********** *********, ********** to ******, *******, *** **** *****.
- ****** ******: ***** **** ** ******* **** locks ******** *** *** ******** ** done *** ****-** *******, *** **** implementation **** ***** ****** ***.
- '****-******': ****** *** **** ****** *** proximity ** ***** *** ************* ****** the **** ** ******* ** **** other ***** *** ** *** * 'differentiator' ** **** *****.
- **** ******** ******: ***** **** ****** **** *** other ********, **** ******** ** ******** in ********* ********** *****, *** ***** * ***** ******** to *** ****** ** *** ********* to ****.
Wyze ****** *** ******
**** *** *** ****** **** ****, so ** ****** ******** *** **** and ******** *** ******* ********. *******, even ** **** *********** *** *********** match *** ******, **** **** **** be ****************, *** ********** **** *********, compared ** ***********.
Channel **** *****
******* *** **** **** *** ***** lock ** ************* ******** ** **** features *** *******, ** ** ****** a ***** *********** *********** *** ****. The ******* *** ******** ** *********, many ** **** *** **** *** will ****** ***** ***** ** **** from ******* ** ***** ***** ** take ********* ** * ****** *** / ****** **********.
** **** ***, **** ** * similar ******** **** **** ******* **** used *** *****, **** ***** ** Google **** ** ****, ***. ***** Wyze **** *** ******* ***** *****, they *** **** ****** ******* ********* existing **** ****** ***** ** ****** smart **** ****.
* **** *** ** *****. * will ****** ***** * ******* ****.
*****, * ***** ** ******** **** company **** ****** **** ** ****** the **** "******" ** ******* *****. Couldn't **** ******** ******** ***** ****.
* *** **** ******* ** ** a ******** ** "****** *****" ??
******'* *******, ***** **** ** * *** minutes ** ****, **** **** *** based ** *********, *** * ***** of******* ****, ***** **** ******* *****. *** sure ** ****** ** ****** ** or ** *****'* * ************ ******* the ******. * *****'* ****** ** it *** ****.
*** **** *********?
************, ** ***** ** ** * knock-off ** ******. *** ***** ******** mimick *** ****** ****** ** **** way, *****, ** ****-****.
*** ****...**** ** ****** *** **** squared/rectangular. **** *** ****** *** **** insert ***** (******* ** *******) **** is **** ** ***** *** ***** lock ** *** ****** ****/***** **** side. **** (*****-**** ****) ***** *** same ****** *******. **** **** *** same ******* **** *** ********/******** ******. They **** **** *** "******" ******...****** calls ** *** "******* ******," **** calls ** *** "**** ******". **** also **** * **** ******** ******, JUST **** ******! ********** ** **** a ******* ****, ********?
Update: **** ****** **** ****
**** **** **** ******* ****** ****'** missed *** ******** **** **** *** Wyze **** ***** *** ****:
** *** ********** **** ** **** and *** ******* ** *** ******* situation *** *** ***** ****** (*** bank *** ******* **** ******* *** this *** ******* *****).
[******: **** **** ******]
** * ******-** ******, **** **** us **** **** ****** *** '*****' lock ********. ** ****** ** * 'help' ****** ********** **.
**** **** ** **** *****. ******* to ****** ** *** **** *** or ***. **** *********** ** *** how ********* ** ** **** *** deadbolt *** *** ******* *** **** has. * **** **** ****** **** to **** *** **** ** *** plate ** *** **** ***** ** the **** **** ** **** ** move *** ******** **** ********. ****** door * **** ********** ** ***.
*'* ******* ***** *** ********, ** well. * ******** ******** ******* *-**** bolts ** ** ***** **** ******* (which ** ****, ****** *****) *** discovered *** ******* **** ****** ******* bolts, ** **** ********* ****** *** reduced. ******* ** **** **** *** top:
**** ** * ******* *********** **** the ********. ** ***** **** **** used ** ******** ******* **'* *** and *** ** ********* *** *'* not ****** ** **** * *** year *** **** *** *** ****** to *** ** ******. **** *** tapered ****, ** *******. ********* **** longer, ** ****, ******* ** *****'* have ** ***** ** ****.
*'* ********** ** *** *** **** a $** **** ****.
****** ***** *** * *** **** to ***** **** **** *****. 😉 Mine ** ** ***** ***. ******** that ***** *** ****. ******* **** my **** ** ** * ***'* through *** ******** **** *** ******* stripping *****'* **** ****. * ***** just *** * *** **** *** together *** **** *** $** **** will **** **** $****. * **** know **** *******. ****** *** *** input.
********** ** *** *** ***** ****** stand ** ******* * ****** ******?