Loyal users of LIFX smart lights are breathing a sigh of relief with news that the brand has a new–and hopefully, more financially solvent–owner.
Feit Electronics, a California-based manufacturer of lighting and smart home products, scooped up LIFX from its former owner, Buddy Technology, an Australian IoT company that went into receivership earlier this year.
In a press release, Feit promised to keep the LIFX brand going with “even more revolutionary products,” as well as to “support and evolve” the LIFX app.
At the same time, Feit said it will maintain its own Feit Electric smart platform and app, with “possible future integrations” with the LIFX platform.
LIFX (or Lifi Labs, as it was officially known) makes some of our favorite HomeKit-compatible smart bulbs, but as ReviewGeek points out, LIFX has long struggled to stay in the black.
The brand’s fortunes seemed to be improving after it was acquired by Buddy in 2019, but LIFX’s new parent turned out to have financial troubles of its own, with three of Buddy’s board directors resigning last year following accusations of “inflated revenue.”
By April 2022, Buddy had entered receivership, and as LIFX’s inventory began to dwindle, LIFX users feared that it would soon be “lights out” for the brand.
Luckily, LIFX found a buyer in Feit, while Buddy will likely “cease operations” later this month, according to Stockhead.
In the meantime, a LIFX rep has been assuring users on the LIFX subreddit that the brand will have a smooth transition to Feit, adding that a new firmware release for the LIFX app is set to begin beta testing.
Answering a question about LIFX’s dwindling inventory, the rep said that LIFX is “currently evaluating our sales strategy on a regional basis” and will offer “communications on changes to product availability” in “the coming days and weeks.”