The LED industry has seen bulb prices nose-dive in recent years. When Walmart sold its 60W LED bulb two years ago for under $9, it was considered at the time an “aggressive pricing strategy.” But the same GE 60W LED bulb prices today has lost almost more than two thirds of its value, with three pack LED bulbs expecting to be sold for $3 each in August 2015. Over competition from Chinese manufacturers and the maturing technology has led to plunging prices in the LED bulb market, but has smart LED bulbs arrived to similar crossroads?

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.