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Nest may release cheaper version of its flagship thermostat and a security suite

Why it matters to you

Nest's smart thermostat remains one of the best devices on the market and now the company may offer an even cheaper version of it.

In the world of smart thermostats, few stack up to the variation produced by Alphabet’s smart home brand, Nest and according to Bloomberg, its flagship device is about to get a whole lot cheaper. Typically a $250 unit, rumor has it Nest has remained hard at work designing a model intended to retail for under $200. Although not a complete replica of its standard thermostat, the new release is said to ditch the original’s metal edges and lean on cheaper interior and exterior components to bring the final price down.

While Nest has yet to officially announce any such release, Bloomberg cites “a person familiar with the matter” broke the initial story, which also includes the potential release of a series of home security products. Because of the company’s relative silence, it’s unknown exactly how much the new thermostat might cost or even when it might hit the market. However, Bloomberg’s story does note that anyone interested in either development may have to wait until at least 2018 to get their hands on them.

Concerning the rumored security suite, an upgraded indoor security camera and digital doorbell may comprise the bulk of the offering. Furthermore, a prototype version of the security system is said to also include alarm sensors for windows or doors, a controllable central hub, and a fob which would grant users the ability to arm or disarm the hardware remotely. According to Bloomberg’s source, the security system will likely buzz when someone enters a room — similar to other standard systems — until they use the remote fob or punch in a correct password.

More: Better late than never: Nest adds two-factor authentication to protect device

As is the case with many hardware releases and rumors, much of this speculation might change dramatically, with the final devices or releases looking and functioning wildly different. However, for a company that doesn’t typically release new products, it’s a promising sign for its growth.