A big portion of the cost of an hardware product goes to the UI. It can be composed of knobs, keys, LCDs, LEDs, etc. The use of Bluetooth or WiFi connection to smartphones and tablets make it possible to have minimalistic product design, better UI and reduced costs. Many of the crowdfunding projects take advantage of this. Here is a small list with the best examples. (open slide notes for more info)
The Kickhttp://riftlabs.com/Raised $210,597 onKickstarterhttp://www.kickstarter.com/projects/1918868829/the-kick-a-pocket-sized-lighting-studio-for-photo
Lockitronhttps://lockitron.com/Raised$2,278,891 on preorders.Video: https://www.youtube.com/watch?v=D1L3o88GKew
LIFXhttp://www.kickstarter.com/projects/limemouse/lifx-the-light-bulb-reinventedRaised $1,314,603 on Kickstarter (19 hours to go)Sparkhttp://www.kickstarter.com/projects/sparkdevices/spark-upgrade-your-lights-with-wi-fi-and-appsRaised $5,129 on Kickstarter (29 days to go)Philips Huehttp://www.meethue.com/