The trending smart living concept has failed to enter average households because of smart devices high price tags, according to a report by ZOL.com.

The MiPow Blue Label LED bulb has a targeted retail price of RMB 49 (US $7.89). (All photos courtesy of MiPow via Hi Taobao)

Aiming to introduce smart lighting products to the masses, Bluetooth LED bulb manufacturer MiPow started a project on China’s Hi Taobao crowfunding platform to finance the launch of a super cheap Bluetooth LED bulb.

The LED bulbs will still have 16 million color range, alarm settings, and many other features found in MiPow's higher end products.

Average prices of smart LED bulbs can reach several hundred Chinese Yuan, but MiPow’s latest crowdfunding project plans to slash bulb prices to RMB 49 (US $7.89) bulb. Perhaps the company is aiming for something more than allowing masses to experience conveniences smart lighting can bring.

An example of MiPow smart LED bulb illuminating a living room.

MiPow had previously positioned itself in the high-end market, the recent move is a drastic change in its business strategy. Its latest crowdfunding project has retained older smart LED bulb model features of 16 million colors, four pulse modes, color changing alarm mode and automatically switching on in the morning. By downloading the company’s free app onto smartphones, iPads and other mobile devices, users can control the wireless LED bulbs via Bluetooth connection. Users can change the bulbs colors, lighting efficiency, and simultaneously control up to five LED bulbs. In addition, the smart LED bulb can save more energy and costs compared to an average 40W LED bulb.

MiPow LED bulb specs. The bulb uses both RGB and warm white colors. Its voltage is 100-240V, has a power of 5W, Bluetooth 4.0, 280 lumens, and an estiamted lifetime of 20,000 hours. The lamp model is E26/E27.

MiPow will kick off its smart LED bulb crowdfunding campaign in China on July 8, 2015.