Whirlpool Integrates Apple Watch, Expands Deal With Honeywell
Whirlpool Corporation WHR, the world’s leading manufacturer of home appliances, has been making strategic partnerships and innovations to provide consumers with the best-class service and seamless experience. In this regard, the company said that users will now be able to distantly operate their home appliances through Apple Inc. AAPL Watch. Notably, this deal makes Whirlpool the first ever appliance manufacturer that has connected the smart home devices with Apple Watch and its capabilities.
The activation of Apple Watch functionality across the company’s appliances will be executed in early 2018, thereby allowing Whirlpool’s customers to handle the household chores in a smarter way. Over 20 Whirlpool brand connected appliances to be rolled out this year will be compatible with Apple Watch. Whirlpool app in these smart watches will help consumers control appliances remotely.
Impressively, through the smart watches consumers can communicate with ovens, dryers as well as washers.
Concurrent to this press release, Whirlpool has further enhanced its home appliance ecosystem by teaming up with the leading thermostats maker – Honeywell International Inc. HON.
Per the deal, customers will be allowed to connect their home appliances to the Honeywell’s thermostats via Whirlpool app, hence remotely controlling these appliances and their energy levels. The service will start rolling out across over 25 Whirlpool brand appliances during 2018. Through this, users can auto-adjust their appliances to away mode, when Honeywell geofencing technology identifies a customer is not at home.
Notably, the Whirlpool and Honeywell partnership dates back to 2014, where the former has utilized the latter’s low global-warming potential foam blowing agent in insulation in its US-made refrigerators as well as freezers.
Additionally, Whirlpool consumers will be able to manage their appliances via voice commands to both Amazon.com, Inc.’s AMZN‘s Alexa and Google’s home assistant.
All these above-mentioned initiatives signify Whirlpool’s commitment toward producing innovative, environment-friendly and consumer-convenient products. Interestingly, it is among the few companies that heavily invest in technologies to produce differentiated products to suit the needs of their end consumers.
We believe these strategic initiatives are necessary for the company to bring itself back on the growth trajectory.
We note that the company has a dismal earnings surprise trend with five consecutive misses. Moreover, top line lagged estimates for the second straight time, when it reported third-quarter 2017. Raw material inflation and adverse product price/mix have been hurting its performance and are likely to continue throughout 2018. Consequently, this Zacks Rank #4 (Sell) stock fell 8.1% in the past year, however, it fared better than the industry’s decline of 21.3%.
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