- Apple enthusiasts buy the company’s products chiefly because of the ecosystem of software and services that allow them to enjoy numerous tools and Apple-only applications
- This unique selling point could equally influence people who currently own Apple products to buy Apple ecosystem compatible smart home devices built on the HomeKit framework
- SPYR, through its wholly-owned subsidiary, Applied Magix, offers white-label HomeKit products and accessories, but ultimately intends to develop, manufacture, and sell its own line of branded products based on the HomeKit framework
During the 2020 Worldwide Developers Conference (“WWDC”), Apple Inc. (NASDAQ: AAPL) announced an update to HomeKit – the company’s framework, which pairs compatible smart home devices with the iPhone via Apple’s Home app, enabling users to centrally control the devices, automate certain operations, and use voice commands – that observers believed would boost its smart home efforts (https://ibn.fm/ijb0G).
The update would allow HomeKit to provide recommendations that optimize the automation potential of smart home devices, solving a glaring problem afflicting users at the time – the complexity of automating different smart home devices. In addition, the update would enable users of smart home accessories to link their devices’ video cameras to Apple products in what would promote on-device security by allowing the cameras to support facial recognition.
The 2020 announcement was the latest, at the time, in a series of improvements Apple had continuously promised and delivered since the release of the first version of HomeKit in September 2014, as it sought to lock its consumers more tightly within the Apple ecosystem – a collective of services and software that allow users of Apple products to enjoy a plethora of useful and convenient capabilities.
Though Apple has been a laggard in the smart-home market, falling behind Amazon.com, Inc (NASDAQ: AMZN) and Google Inc., a subsidiary of Alphabet Inc. (NASDAQ: GOOGL), its ecosystem and the convenience it offers could ultimately fuel the company’s growth within this space.
A 2017 CNBC All-America Economic Survey established that 64% of Americans owned an Apple product, up from 50% in 2012. The average U.S. household reported owning 2.6 Apple products, while the wealthiest Americans owned 4.7 products (https://ibn.fm/N2kJk). These figures have likely increased since 2017 based on the historical trend.
Meanwhile and according to a 2021 Statista report, 43% of American households reported owning a smart home device, up from 33% in 2019. The trend is also likely to continue as more devices that can connect to the internet enter the market (https://ibn.fm/udLjj).
The variance between the number of Americans who have owned an Apple product and those who have owned a smart home device represents a significant growth potential for Apple’s smart home device segment, especially in light of the significance of the company’s ecosystem. And while the company’s HomeKit framework is not compatible with as many smart home devices as Google Assistant and Amazon Alexa, third-party companies are filling the gap.
One such company is Applied Magix Inc., a wholly-owned subsidiary of SPYR (OTCQB: SPYR). Acquired in October 2020 (https://ibn.fm/in0HE), just a few months after Apple’s WWDC, Applied Magix is a registered Apple developer and reseller of Apple ecosystem compatible products targeting the burgeoning multi-billion-dollar smart home market.
Applied Magix sources white-label HomeKit products and accessories from manufacturers and selects the best-in-class products that it then sells and offers support services such as software updates. The subsidiary’s goal, however, is to eventually develop, manufacture, and sell its own line of branded products that are based on Apple’s framework.
In the meantime, Applied Magix offers the MagixDrive Wireless CarPlay Adapter; the HomeKit Secure Video Camera with iCloud Storage; the Multipurpose Sensor with Alarm; the Environment and Motion Sensor; the Window and Door Contact Sensor; and the newly introduced MagixBlock USB DataBlocker (https://ibn.fm/TRqwz).
For product information, please see the Applied Magix website at https://AppliedMagix.com, or specific product sites:
- MagixDrive Wireless CarPlay Adapter – https://appliedmagix.com/MagixDriveBundle
- HomeKit Secure Video Camera with iCloud Storage – https://appliedmagix.com/HomeKitCamera
- Multipurpose Sensor with Alarm – https://appliedmagix.com/HomeKitAlarmSensor
- Environment and Motion Sensor – https://appliedmagix.com/HomeKitMotionSensor
- Window and Door Contact Sensor – https://appliedmagix.com/HomeKitContactSensor
- MagixBlock USB DataBlocker – https://appliedmagix.com/MagixBlock
- MagixCharge Dual USB-C Car Charger – https://appliedmagix.com/MagixCharge
For more information, visit the company’s website at www.Spyr.com.
NOTE TO INVESTORS: The latest news and updates relating to SPYR are available in the company’s newsroom at https://ibn.fm/SPYR
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