
Dyson announced a robotic vacuum today. They reported that it took 12 years and $46M to develop. At iRobot we have been anticipating this move for years and it comes as no surprise. It appears to be a very capable machine in some regards but also has significant design flaws that are immediately apparent to me. While Dyson is a serious competitor, their entry into robotic floor care only further serves to validate the category and will expand the market. It is said to begin shipping next year and by then we will have a new model of our own. iRobot stock closed up on the day.