iRobot Seeks to Differentiate Itself Further With New Software
In a July 22 conference call to discuss second-quarter 2020 financial results, Colin Angle, the CEO of iRobot (NASDAQ: IRBT), said, "Differentiating our floor-cleaning robots by providing consumers with an exceptional experience is a critical aspect of our strategy." Subsequent to this statement, the company launched iRobot Genius Home Intelligence to distinguish itself from the competition.
This wasn't a quiet software launch; iRobot is making a big deal about its new capabilities. It's part of a bigger trend in 2020: to establish a more direct relationship with customers. Doing so lays the foundation to establish recurring-revenue streams in 2021.
A Roomba robot vacuum. Image source: iRobot.
Source Fool.com
