"It's certainly the advent of this new type of competitor, the Chinese fast follower who had access to the Chinese marketplace, which I Robot effectively did not,"
"I also think that the marketplace was not a level playing field."
"Then it stopped, because China decided that this was a market of interest, and they were going to ensure that Chinese companies were advantaged to succeed there."
"for various pragmatic and political reasons, gave a protected market to cut your teeth on for the competition,"
Roomba pioneered consumer robot vacuums and peaked near $1.6 billion revenue in 2021 after widespread household adoption and innovations like room-mapping self-emptying models. The company subsequently lost market share to Chinese manufacturers that scaled quickly and benefited from domestic incentives and protections. Limited access to the Chinese marketplace and uneven competitive conditions eroded iRobot’s position. The company filed for Chapter 11 and will be acquired by its primary manufacturer and lender, Picea Robotics. Company leadership cited Chinese competition and an uneven marketplace as central factors in the decline.
Read at Fortune
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