Wyze Labs has adopted the old razor-and-blades business model to enter the home security market: It’s giving away its Wyze Home Monitoring starter kit to consumers who commit to one year of its professional monitoring service. As is its wont, however, Wyze is severely undercutting the competition on price: $60 buys the hardware and a full year of monitoring.
At $60 per year, Wyze’s professional monitoring will dispatch law enforcement if the security system goes into an alarm state. Monitoring is outsourced to the third-party service provider Noonlight, and it costs about half what Ring charges for its Ring Alarm DIY home security system (that’s on top of the $250 Ring charges for its starter kit). Ring outsources its professional monitoring, too; as you’ll see, however, Ring’s offering is more robust overall.