(San Francisco)

While the press around it has not been nearly as hyped as the iPhone, Apple has finally released its new HomePod. The company’s version of the very popular smart speaker could end up being a major profit source for Apple, if not for the device itself, then because it could facilitate a significant source of service based revenue within Apple’s ecosystem. The device will offer similar functionality to other smart speakers, but apparently will have immensely better sound quality, and will, unsurprisingly, be priced significantly higher than competition, at $349, or more than triple the price of the newest Amazon Echo.

FINSUM: We think this is a very smart area for Apple to get involved in, and frankly, they should have done it sooner. However, being first is often less important than executing perfectly, so if this device is really great, then it won’t matter that it came out late.