iRobot's Roomba 870 (left) will have new competition next year from Dyson's 360 Eye (right). Source: iRobot, Dyson.

With Dyson set to launch its first-ever robotic vacuum next year, you'd think the folks atiRobot Corporation would be sweating bullets today. Dubbed the "360 Eye," Dyson promises its slick-looking machine will have "the strongest suction of any robot vacuum."

Home Robots currently serve as the primary driver of iRobot's growth amid an increasingly difficult environment for defense spending. And within that, Roomba alone generates a whopping 85% of iRobot's total sales. But while iRobot has faced dozens of ambitious competitors since introducing its first Roomba more than 12 years ago, none enjoy the same levels of spirited innovation and consumer confidence as Dyson.

iRobot management claims it's relatively unconcerned. In fact, iRobot actually appearsexcited for Dyson's impending entry into its core market.

Speaking at the NASDAQ OMX 31st Investor Program earlier this week, iRobot CFO Alison Dean gave three reasons why iRobot isn't worried: 

1. This isn't a stealth attack

This is something we expected. [Dyson] has been vocal about the fact they've been working on a robotic vacuum cleaner for many years. In fact, we understand they were ready to launch one a few years ago, and pulled it at the last minute for reasons we're not 

More at source: Fool.com

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