Premium industrial goods company Emerson Electric Co.EMR recently disclosed that its popular WI-Fi-enabled thermostat is now attuned to Wink home automation systems. The company's Sensi thermostat, which received great response in the market since its launch in last year, is regarded as one the best Wi-Fi thermostats of recent times. This product modification has not only helped fortify Emerson's existing portfolio but also augmented its brand status in the global HVAC (heating, ventilating, and air conditioning) controls and thermostat industry.
Emerson's popular Wi-Fi thermostat is presently available in select conventional and digital stores such as Home Depot and SensiComfort.com, select retail stores and from some professional HVAC contractors. The product enjoys high preference from household customers due to its reasonable pricing, easy-to-use operating system and availability as mobile-based application. Now, the specialized Wink compatibility will add further to its appeal.
Emerson is a diversified global manufacturing and technology company. It offers a wide range of products and services in areas like process management, climate technologies, network power, storage solutions, professional tools, appliance solutions, motor technologies and industrial automation. Launch of Sensi thermostat helped the company initiate its business in the steadily growing Wi-Fi thermostat market, which is anticipated to reach $600 million by 2018, as per ABI Research. These thermostats continue to witness huge demand from customers who are inclined toward a smart home system. Thus, we believe Emerson's efforts toward upgrading an already popular product would help it reap higher revenues in the quarters ahead.
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Troubled by certain issues in business, Emerson Electric currently carries a Zacks Rank #5 (Strong Sell). Reduction of customer expenditure in the oil & gas market and appreciation of the U.S. currency had adversely affected the company's earnings and revenues in second-quarter fiscal 2015. Moreover, the company anticipates these issues to persist and continue affecting its financials in the upcoming quarters.
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