The stock of Amazon.com, Inc (NASDAQ:AMZN) closed at $1,500.25 gaining 0.46% in yesterday’s trading session. Reports coming up indicate that once the current stock of Nest products gets exhausted Amazon.com will have to stop there.
It was in the previous year that Amazon disappointed customers who expected it to serve them with some of Nest’s newer products like the latest-generation smart thermostat and the Nest Cam IQ. The retailer declined which was a matter that resulted in much speculation.
For a number of weeks there was a stalemate but after that Amazon phoned the company to let it know that decision had been handed down by Jeff Bezos who happens to be its CEO. But some people have been asking whether or not there was a direct confirmation of the matter. A person familiar with the matter came out to say that there was not yet any direct confirmation of the matter.
An official following up on the latest developments opined, “Nest has decided to halt further restocks at Amazon once remaining product inventory is exhausted. It’s unclear whether third-party sellers will continue selling Nest gadgets, but Amazon itself will not.”
By cutting itself off from Amazon, Nest is taking the standpoint that Amazon is supposed to be selling its entire product or nothing at all. At this point in time, a number of products from Nest are readily available with Prime shipping but reports indicate they are being sold by other vendors though they are “fulfilled by Amazon.”
Lately there has been an acrimonious, anti-consumer feud between Alphabet Inc (NASDAQ:GOOGL) and Amazon and an ideal marking of that is the impending disappearance of Nest from Amazon. It was in the previous month that Nest got absorbed back into Google but is worth mentioning that it followed a period of about three years with it sticking out as a standalone Alphabet subsidiary.
In numerous instances Amazon has declined to sell some Google-branded products such as the Pixel smartphones and the Google Home voice assistant speaker. This changes are happening at a moment when business dynamics are shifting pretty fast and a lot of people will following closely on the matter to get to hear about new reports.