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Apple is releasing an updated version of its HomePod mini smart speaker this year, with three new colors and voice features, including the ability to broadcast messages across various HomePods in the same household.
This is the latest push from the tech giant who has struggled to keep up in the US smart speaker market for quite some time. The 2018 model of its HomePod smart speaker ($350) sold poorly and was discontinued. The 2020 HomePod mini ($100) was preferred among consumers as a smaller and cheaper option — but the company still struggled to gain a significant share of sales in the market.
Apple has been able to dominate more mature market segments in the past, but the company still has a ways to go before making a dent in the smart speaker space. For one, HomePod is tied to Apple's ecosystem, which limits its adoption. What's more, companies like Amazon and Google have been building on their current devices for quite some time, with frequent updates to elevate the smart speaker experience.
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A report from CIRP in August said that Amazon owned 69% of the US smart speaker market as of June 2021 and Google came in second with a 20% share. Apple's HomePod penetration grew slightly to 7 million units in 2021, putting it at less than 10% of the US smart speaker market. However, with only one smart speaker model and a lack of cross-platform functionality, Apple may have a hard time playing catch up in this market.
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