Things are heating up for Google Inc (NASDAQ:GOOGL)‘s eye-wear as the tech giant’s product outgrows the laboratory confines. In an article on CNBC, it was reported that the current experimental version of the hyped wearable technology is going to be halted and a new commercial version will be released sometime this year.
Google Glass was part of Google X, which is responsible for futuristic innovations like self driving cars, drones, and extremely advanced robots. The eye wear has now graduated from this department as it gears up to invade the consumer markets.
Google Inc (NASDAQ:GOOGL) has reshuffled the Glass division as well in light of this new development. According to the article the new head of this department will be Tony Fadell, CEO of Nest, a company that Google Inc (NASDAQ:GOOGL) acquired last year, which is essentially involved in home automation. This move could also provide an insight into what the company expects its new version of the device to evolve into. It wouldn’t be too far fetched to see the central role that Google Glass could play in IoT (Internet of Things).
The Verge was quoted in the article as reporting that Google Inc (NASDAQ:GOOGL) is retaining the current head of Glass, Ivy Ross, who will continue to oversee the day today affairs of this wearable technology, but will now report to Fadell.
Google Inc (NASDAQ:GOOGL)’s shares have been falling for the past couple of months due to concerns about the company expanding low margin businesses such as Google Play and YouTube, while the search and ad business are more or less maturing. However, most of these fears seem to be overplayed and a tech giant like Google Inc (NASDAQ:GOOGL) which has several innovative projects in its pipeline, all of which have tremendous potential to change our future lifestyle, cannot be deemed as redundant. At least not just yet. Hence, this could be a perfect time to hold Google for the long haul.
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