Smart Toy, LLC is probably better known as Ubooly for launching a fuzzy animal cover for the tablet that uses an application to bring it to life. After a buy out from Cartwheel Kids, LLC in 2014 and a rebranding to Smart Toy, the company has launched its first full "smart" toy.
This Smart Toy Wants to Be Your Child's BFFF
First set to launch on their website in July 2015, the launch was pushed to September and now, it appears Smart Toy's first product will take the company's name Smart Toy® and launch under the Fisher Price brand. The toy is currently in Pre-Sales through Toys-R-Us for $99. Smart Toy, LLC has even received a registered trademark for the generic name - Smart Toy® which is impressive.
image courtesy of www.smarttoy.com
This toy appears to pack WiFi, Bluetooth, speech recognition, and camera technology into one cute little furry creature that a parent can customize with their smart phone and activity cards. This is definitely a smart toy to watch this Christmas season and we are excited to see how it fairs on the market.
The price tag of $99 is a great value given the technology and application when compared to other smart toys like the Bluetooth only Dash robot from Wonder Workshop which retails for $169.99.
Likely Fisher Price and Smart Toy are looking for follow-on app purchases of activities and features to cover the margins over time. The typical retail markup would dictate that the cost of goods on a $99 toy is less than $20, which is quite low for all the technology they have packed into these smart bears and monkeys. If this is the case, this is an exciting first step as this "smart" toy technology space to prove that follow-on purchases can cover the cost of the higher priced toys. Maybe in the future kids will have fewer toys but they will be smarter and evolve over time. We at Dynepic® sure think so.
This is not the first time a big toy manufacturer has teamed up with a startup. Mattel, parent company to Fisher Price, teamed with Toy Talk to bring out Hello Barbie, which is due on shelves this October.
It appears that Smart Toy is also marketed under www.smarttoylabs.com so I am sure there is much more to come from this innovative smart toy company.
Author Krissa Watry is CEO of Dynepic® where they are building the Internet of Toys and launching services for app developers and toy manufacturers to more easily extend their products to kids and collaboratively connect with others in a safe and parent approved manner. See more here.