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Zoom to Introduce Zoom for Home

Zoom Video Communications (NASDAQ: ZM) will more directly embrace the "work from home" trend. Wednesday, the San Jose-based company announced the launch of Zoom for Home.

In what it calls a "new category of software experiences and hardware devices," Zoom for Home will facilitate productivity and remote connections. This could help employees and employers adapt to what has become a "new normal" for the work life of millions. Zoom partnered with communications technology company DTEN to customize this workspace and further build on Zoom's software capabilities.

On the hardware side, Zoom for Home is a 27" all-in-one device. This includes three built-in cameras capable of producing high-resolution video. It also has eight microphones to maximize audio quality, as well as a touchscreen with capabilities such as screen sharing, annotations, ideations, and whiteboarding.

Businesspeople pictured on a videoconferencing application.

Image source: Getty Images

This also comes as Zoom announced its "Hardware-as-a-Service" (HaaS) business model last week. The company may come in handy, as competition looms in this space. To that end, this product could help Zoom compete with the likes of Slack and Microsoft, who also want a portion of the videoconferencing market.

Workers generally appear ready for this change. The recent COVID-19 crisis and the lockdowns across much of the country have necessitated working from home. Zoom's press release cites a study conducted by IBM, which found that 81% of workers want to perform duties remotely at least some of the time. Moreover, around 61% said that they would prefer to transition to working primarily from home.

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Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool's board of directors. Will Healy has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Microsoft, Slack Technologies, and Zoom Video Communications and recommends the following options: long January 2021 $85 calls on Microsoft, short January 2021 $115 calls on Microsoft, and short August 2020 $130 calls on Zoom Video Communications. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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