When it comes to a company such as IKEA, the stores, as well as the revenues, are massive. In the fiscal year from 2017 September to 2018 August, IKEA has accumulated $43 billion in terms of revenue. Given that this is not a conventional profit for the multinational retailer in Sweden as the operational costs are hefty.
Recently, IKEA said that the company would put all of its focus and resources in building a series of Smart Home devices. In addition to this, the devices would, later on, become the company's own unit of business across the home country. There are chances which suggests that many companies have lost to IKEA, recently. The Smart Home devices of the company expand to a massive number. Moreover, this also gives rise to the accomplishments of the Digital Age, "IoT."
The first IoT device by IKEA came into being in the year 2012. Even since that year, IKEA has sold a significant amount of products such as smart speakers, light systems, which can be controlled using smartphones via apps.
Peter Poel, the manager of Range and Supply of IKEA, said that the offerings of the company are only in the beginning stage. Poel also said that the company decided to heavily invest in Smart Home to fast-forward the rate of development. According to Poel, this is a new establishment ever since IKEA for children came into being.
The new development of IKEA is not only good news for the Internet of Things. Instead, it is an excellent piece of news for the industries of smart devices. Internet of Things might have garnered a lot of attention since 2014, nevertheless Poel believes that they still live in a world which is filled with omnipresent computation.
Currently, almost all the electronic devices that people use are connected to the Internet 24/7. Moreover, these devices can be easily controlled using a smartphone.
**This post was published on https://www.forbes.com
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