Is Apple's New HomePod Mini Too Little, Too Late?

Investors have been hearing about Apple (NASDAQ: AAPL) working on a HomePod Mini for years, following the original HomePod's flop. Announced in mid-2017 and launched in early 2018 at $350, the HomePod failed to gain traction in a booming market for smart speakers. Apple was the No. 6 player in the smart-speaker market in 2019, with just a 4.7% market share, according to Strategy Analytics.

Amazon.com (NASDAQ: AMZN), Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Google, and Baidu (NASDAQ: BIDU) continue to dominate the smart-speaker market. Is the HomePod Mini too little, too late?

Image source: Apple.

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Source Fool.com