Lowe's expands smart home solution

Lowe's (NYSW:LOW) announced the launch of new products for its smart home solution system, Iris. The move comes on the heels of Staples' (NASDAQ:SPLS) announcement that it would join the household automation market with its own platform.

The latest products compatible with Iris include a smart garage door controller, electronic pet door, window blinds controller and hose faucet timer. The items aim to help consumers cut energy costs, reduce water usage and keep homes secure.

"Iris is a simple and affordable smart home solution that helps make homes safer, more energy efficient and easier to manage. We offer the most extensive array of connected products on the market that can be easily customized to meet consumers' needs," said Kevin Meagher, Lowe's VP and GM, Smart Home. "These new products add more value to the smart home offering with new ways to improve home security and manage energy costs with DIY solutions to give our customers peace of mind year-round."

Iris was rolled out in 2012 as a single user interface to monitor and control a wide range of home devices. The new products join the existing arsenal of 50 available devices compatible with Iris, which include products such as security cameras and smoke detectors. The experience connects consumers with products from brand names such as General Electric and Whirlpool. Iris' open platform also supports dozens of other Zigbee and Z-Wave-enabled devices.

Just three weeks ago, Staples announced it would add Staples Connect in-store displays to 500 retail locations and integrate wearable technology as part of its platform.

The competition among home improvement retailers is stiff. As sales start to improve with the recovering housing market, retailers like Lowe's have been enticed to step up their game. Just last month Lowe's Innovation Labs released Holoroom, which allows customers to walk through a holographic simulation of a room they want to remodel.

For more:
-See this Lowe's press release

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