In the consumer products space, rulers are dethroned with alarming speed
IRobot deserves plaudits for creating perhaps the only home-cleaning gadget suitable to gift a loved one without causing offence. The collapse of the maker of robotic Roomba vacuum cleaners isn’t so distinctive, however. Rather, it adds to a long list of examples where first-mover advantage failed to create durable success.
While iRobot itself may now be swept into the dustbin of history, having filed for Chapter 11 bankruptcy protection over the weekend, the Roombas themselves should rumble on. Shenzhen-based Picea Robotics, one of iRobot’s creditors and its current contract manufacturer, is likely to emerge as the company’s new owner.