The tech landscape is changing at an unprecedented pace. Over the last few years, low-cost, practical devices such as Google's Chromecast and Amazon's Echo have enjoyed massive success. As much as the success of these devices is admirable, however, there is a possibility that their current popularity is actually compromising several notable firms in the tech industry.

What is particularly interesting about devices like the Chromecast and the Echo is the fact that their value only increases over time. Unlike premium smartphones like the iPhone or a full-fledged PC, which have a definite life cycle due to the age of their hardware and specs, gadgets like the Chromecast and the Echo rely primarily on applications to keep them useful.

Thus, even if the Chromecast is an extremely low-powered device with less than entry-level specs, it is also extremely useful and simple to use and set up. Couple that with a measly $35 price tag and the device becomes a very attractive purchase for the consumer.

It's the same thing for the Amazon Echo too. Stripped down to its internals, the extremely popular Echo does not boast robust specs, featuring only 4GB of flash memory and a rather measly 1GB of RAM. Nevertheless, the $199 device is widely considered as one of Amazon's most popular devices, due to its ease of use and its large array of A.I.-powered applications.

Before the advent of these useful, low-powered devices, users were expected to dish out large amounts of cash in order to keep up with the latest in technology. Now, a simple software update would give your 2-year-old Chromecast the same capabilities as the newest model. This was exhibited by Tesla through a recent update, where the carmaker practically gave its fleet of vehicles self-driving technology overnight.

The success of devices like the Echo and the Chromecast do not bode well for firms that rely on the latest hardware to be lucrative. This fact is even more prominent for firms that rely on high margins of revenue per device sold, such as Apple.

Though this new trend among gadgets would probably compromise large tech firms such as Apple and other prominent hardware manufacturers, it would be the consumer, the everyman, who is set to receive the best spoils of this ongoing, hard-fought battle. 

Tags: Google Amazon google home Amazon Echo apple