Apple considers home robotics as 'next big thing': Bloomberg
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The news: Apple is considering a push into personal robotics as it looks for new growth sources after cancelling its electric vehicle project, according to Bloomberg.
The numbers: Shares in Apple climbed on the Nasdaq in February after the company informed the 2,000 employees working on its electric car that the project would be cancelled, following around 10 years of development.
Apple shares rose 0.29% to USD170.14 ($258.58) in after hours trading.
The context: Engineers at Apple are now exploring a "mobile robot" that can follow users around their homes, unnamed sources said. The company has also developed an advanced table-top home devices that uses robotics to move a display around.
Apple is hoping to capitalise on advances in artificial intelligence through home robotics, with the potential to become one of the iPhone maker's "next big things".
While the robotics work is happening inside Apple's hardware engineering division and AI machine-learning group under John Giannandrea, the hardware development is being overseen by home products executives Matt Costello and Brian Lynch.
The source: Bloomberg
