Amazon Wants to Set Up Your Smart Home
People are willing to pay a lot for in-home tech support. Last year, Best Buy's (NYSE: BBY) services segment, which includes the Geek Squad, generated over $2 billion in revenue for the company. Management sees services like Geek Squad as a big growth opportunity for the company.
But Jeff Bezos is once again proving that no retailer is safe from Amazon (NASDAQ: AMZN). The company has been quietly operating its own in-home smart home consultation service in select cities, and it reportedly plans to expand to more places later this year. The company already offers in-home services like device installation through a third-party marketplace, but the smart home service will be run in house.
Considering Amazon's strong position in smart home appliances via its Alexa interface, it's in a good position to take on Best Buy's Geek Squad along with other competitors in the space.
Source: Fool.com
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