In a move that may not be completely surprising to anyone, Lowe’s has announced that it’s shutting down its own Iris smarthome platform.
The company announced the move in its third-quarter earnings statement last week, citing “strategic reassessment of the business” as the reason, as well as focusing more “on its core home improvement business and improve profitability.”
Lowe’s provided us with the following official statement on the matter:
“Lowe’s is in the process of finding a buyer that remains committed to providing customers with the same level of service they have come to expect from Iris. We do not have timing or additional details to share at this time, and it remains business as usual. There are no changes to Lowe’s support of the brand, product or service as we search for a buyer.
Offering customers smart home products is still an important way we serve their needs, and we will continue to carry Iris and other smart products on our shelves. However, we will focus on the retail side of the Iris business, not on supporting our own smart-home platform. The smart home category continues to be an important part of our customers’ home improvement journey, and we remain committed to carrying the breadth and depth of smart home products and brands to meet our consumers’ needs now and in the future.”
Lowe’s launched Iris back in 2012 as a way for the company to sell its own smarthome products to the public. The product line offered a handful of various ZigBee and Z-Wave devices and sensors, as well as a proprietary Iris hub, but the devices also worked with other smarthome hubs, like Wink and SmartThings. Iris also integrated with other product lines like Philips Hue and Nest.
Lowe’s will continue to sell smarthome products from other brands, including devices from GE, Google, Nest, Amazon, and more, but the company’s own Iris platform won’t share that same honor in the near future.