Amazon's $250 Ring Camera Will Fly Around The House — And Record Everything

Amazon.com, Inc AMZN-owned Ring announced Thursday the launch of a flying indoor camera that provides users multiple viewpoints of their home.

What Happened: The lightweight autonomous camera flies along predetermined paths set by the user and can be used in conjunction with the home security company’s Alarm and Always Home Cam products, Ring said in a statement.

Ring said the flying drone camera is priced at $249.99 and only records when it is flying to maintain user privacy. The device will be available on Amazon and Ring websites in 2021.

The camera can be used to fly around the home when a user is not present to check on the safety and security of the monitored area, as per the company.

Why It Matters: Ring — in partnership with Tesla Inc TSLA on Thursday — announced a slew of vehicle-related security products such as a Car Cam, Car Alarm, and Car Connect.

The Santa Monica-headquartered security company faced flak last year and defended itself against allegations that it was “hacked” several times.

The security-centric firm said it was bringing end-to-end encryption to its security cameras.

The Jeff Bezos-led company has been under fire for undermining competition like Arlo Technologies Inc ARLO, which makes products that compete with Ring, by restricting its rival companies' ability to advertise on its e-commerce website.

Amazon also unveiled a set of new products and services on Thursday — including a cloud gaming service dubbed "Luna."

Price Action: Amazon shares closed nearly 0.7% higher at $3019.79 on Thursday and rose almost 0.9% in the after-hours session.

Photo courtesy: Ring