ADT, the home security monitoring service provider, whose signs at least are in almost every suburb in America, is prepping the launch of an all-in-one security device. The product, set for later this year would let a new segment of consumers monitor their homes without necessarily buying into ADT’s expensive monthly subscription plans.
After an investor meeting Thursday, the company announced a partnership with LG Electronics to build a sleek, home security camera that also contains a variety of sensors and would connect to a consumer’s broadband network.
The product, which doesn’t yet have a name, an official launch date outside of fall 2015, or a price tag, would be a break with ADT’s business model, and would compete with offers from startups such as Canary and the Piper product owned by Icontrol Networks. Arthur Orduna, the chief innovation officer at Boca Raton, Fla.-based ADT, explained that the plan is to offer the product to consumers on a no-contract basis with the idea that a new generation of customers might use it to connect to ADT’s services.
ADT’s existing installed home security product may be great for homeowners who can install a network of door and window sensors on their home, but renters are cut out entirely. Plus, a new wave of connected sensors and DIY home security products are causing homeowners to look at monitored home security as archaic and expensive. There are also new entrants in ADT’s traditional market as broadband companies like Comcast and AT&T are building up their own monitored security offerings to compete with ADT.
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SOURCE: Fortune, Stacey Higginbotham