“HomePod smart speaker, its first big product innovation since the Apple Watch, is looking like an expensive mistake. And that early misstep might cost Apple an important new market,” Shona Ghosh reports for Business Insider India. “That’s according to Deutsche Bank’s brutal analysis of the HomePod’s performance and its importance in smart homes.”

“In an investor note, analysts at the bank wrote: ‘We believe that Apple had a real opportunity to become a major player in the smart home with its introduction of the HomePod smart speaker. However, poor reviews and a significant fall-off in demand post the launch suggest the company has missed the mark,'” Ghosh reports. “The HomePod was meant to take on the Amazon Echo, Google’s Home speaker, and even companies like Sonos. The Echo is the most popular smart speaker in the US, though Google’s Home is gaining. But the HomePod is pricey. At $349 or £319, it’s $200 more expensive than its rivals.”

‘Apple decided to stick with its premium pricing strategy, introducing the HomePod at $349,’ the analysts wrote. ‘In our view, this essentially limits the product’s market appeal to Apple fans who will pay anything for a new Apple device and to consumers with high disposable income,'” Ghosh reports.

MacDailyNews Take: Duh. Exactly.

Read more in the full article here.

MacDailyNews Take: Deutsche Bank’s analysis is indeed “brutal,” as an indictment of the quality of Deutsche Bank analysts who in 2018 still do not understand the basics of how Apple Inc. works.

Newsflash: Apple sells premium products at premium prices to premium customers.

SEE ALSO:
Newsflash: Apple sells premium products at premium prices to premium customers – October 23, 2012

The Inquirer reviews Apple’s HomePod: ‘Looks great, sounds fantastic; Siri needs work’ – April 6, 2018
I want another Apple HomePod for sure, maybe two more – March 20, 2018
Sound quality shootout: Apple HomePod vs. two Sonos Ones – March 16, 2018
Apple HomePod: The audiophile perspective plus 8 1/2 hours of measurements; HomePod is 100% an audiophile-grade speaker – February 12, 2018
Apple’s HomePod is actually a steal at $349 – January 26, 2018
Digital Trends previews Apple’s HomePod: Impressive sound coupled with strong privacy – January 26, 2018
Hands on with Apple’s HomePod: Attractive, ultra-high-quality speaker, an excellent Siri ambassador – January 26, 2018
Apple’s HomePod, the iPod for your home – January 25, 2018
One hour with Apple’s new HomePod smart speaker – January 25, 2018