Otto - Digital Door Lock Manufacturer Introduced In August 2017 - Closes Up Shop 5 Months Later

Breaking News: OTTO Closes Down.

Otto displayed their new entrant to the digital deadbolt market back in August 2017 with a great deal of hype.

The system purported to be a high quality top end system aimed at the residential home security market.

Promising features and high quality manufacturing priced the new product at the upper end of similar offerings.

The IoT (Internet of Things) industry has brought a great many new players into the market and industry in recent years and home security products purports to be a $20 Billion - $30 Billion dollar industry and constantly growing.

There are no end of new products coming to market to whet the appetites of consumers, each with varying product features and uses. WiFi, Bluetooth, NFC, Deadbolts, Door Handles etc all vying for a piece of the pie.

But to corner a part of the market requires some capital and longevity in an industry that is truly dominated by few worldwide corporations that essentially own the market. Assa-Abloy is well known as the worldwide leader in manufacturing of access control, locking systems, hardware for commercial and residential entry systems. They have many competing companies under their umbrella and are well known as a builder of high quality products. They have the resources to continue to offer many of the leading and most desired products in the industry, across the planet..

Otto have become the latest startup to fall victim to a crowded market. They were just in the process of finalizing a corporate takeover of their company, when the buyer pulled out.
The ensuing damage damned the fate of this Silicon Valley startup, before they could get their product out to the market. They now have a warehouse full of product unable to be sold and are facing complete shut down.


Would be entrants to the vast access control industry should be doing their due diligence and investigating thoroughly through a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis, which would normally determine the viability of a product or service offering in a business model. This is a vital and important part of business planning and something you cannot overlook.

                               "Businesses that fail to plan, plan to fail".



No doubt more young up and coming entrants to the access control and commercial and residential security markets will also bite the dust in the near future.

It should be incumbent on consumers that purchasing some of these products could be futile due to these new companies quickly disappearing and consequently being unable to honor warranties, provide spare parts or services.

It often falls to the long time trades services professionals like electricians and locksmiths to solve customers issues. Many professional tradespeople have deliberately trained and practised for years, to analyse, solve and create solutions to service consumers.

Consulting your local professional can often provide a better solution than just another online site or just a review.

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