Faithful users of LIFX sensible lights are respiration a sigh of relief with information that the model has a new–and hopefully, additional economically solvent–owner.
Feit Electronics, a California-centered producer of lighting and smart home products, scooped up LIFX from its previous owner, Buddy Technological innovation, an Australian IoT enterprise that went into receivership before this 12 months.
In a push release, Feit promised to maintain the LIFX brand heading with “even a lot more groundbreaking products and solutions,” as perfectly as to “support and evolve” the LIFX application.
At the very same time, Feit said it will sustain its have Feit Electric good platform and application, with “possible long term integrations” with the LIFX platform.
LIFX (or Lifi Labs, as it was formally recognized) will make some of our preferred HomeKit-compatible wise bulbs, but as ReviewGeek factors out, LIFX has extended struggled to keep in the black.
The brand’s fortunes appeared to be strengthening just after it was obtained by Buddy in 2019, but LIFX’s new mum or dad turned out to have monetary problems of its individual, with three of Buddy’s board directors resigning final year following accusations of “inflated earnings.”
By April 2022, Buddy had entered receivership, and as LIFX’s stock began to dwindle, LIFX people feared that it would before long be “lights out” for the manufacturer.
Thankfully, LIFX observed a purchaser in Feit, even though Buddy will likely “cease operations” later this month, according to Stockhead.
In the meantime, a LIFX rep has been assuring end users on the LIFX subreddit that the brand name will have a easy changeover to Feit, adding that a new firmware launch for the LIFX application is established to start off beta screening.
Answering a dilemma about LIFX’s dwindling stock, the rep claimed that LIFX is “currently analyzing our gross sales approach on a regional basis” and will give “communications on adjustments to item availability” in “the coming days and weeks.”
