Heads Up, GOOG Investors! Nest Won’t Be Profitable for 10 Years

Nest will continue to develop new devices

   

Heads Up, GOOG Investors! Nest Won’t Be Profitable for 10 Years

Nest, which was bought by Google (GOOG) earlier this year, won’t be profitable for another 10 years.

NEST5 Heads Up, GOOG Investors! Nest Wont Be Profitable for 10 YearsAccording to Nest CEO Tony Fadell, the company that is looking to help people save energy with smart household items won’t truly be profitable for another 10 years. He claims that the company isn’t just there for a quick hit and a single product release to make money, but that it will stick around longer to continue its work with smart home devices, reports MarketPlace.

Nest has released a smart thermostat that adjusts temperatures based on schedules and if anyone is in the house. Fadell claims that this innovation in a home device could save people a lot of money. He also said that the company is working to develop other smart devices, MarketPlace notes.

Nest also recently bought Dropcam, a company that deals in video monitoring and security. The company claims it doesn’t have many changes planned for the company other than adding its logo to the devices, USA Today notes.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/07/goog-nest-google/.

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