Alphabet's Nest smart home company hasn't made much news since CEO and founder Tony Fadell left the company. We know the company hasn't delivered on the promised expansion plans under Alphabet, and the group isn't for sale, but what about products?

According to a report from Bloomberg, the company is looking downmarket and is planning to debut a cheaper version of its flagship product, the smart thermostat. While the current Nest thermostat is beautifully designed, many people balk at the $250 asking price. The report claims this new model would sell for "under $200," and "at least one internal prototype" wasn't made of metal. The report also says Nest is working on remote temperature sensors so the thermostat can monitor the temperatures in different rooms, a favorite feature of the rival EcoBee 3.

Bloomberg also seconded the reports that Nest is still working on a home security system . The report says the current prototype has "a central hub with a keypad, a pack of alarm sensors to be placed on windows and doors, and a fob for key rings for arming and disarming the alarm system." Last we heard about the system was from The Information , which claimed the project—codenamed "Flintstone"—had been "killed or changed so many times that one former employee jokingly called it 'Tombstone.'" It should be hitting around four years of development time now, and while the report said Alphabet was "pressuring" Nest to release the device in 2016, that obviously never happened. Also in the works is a "digital doorbell," and Nest previously posted a job listing for a " Nest Audio " product.

Any news about future Nest products should be taken with a grain of salt since the company has chronically struggled to bring new products to market. Just look at the security system, which has been in development for four years. Nest still has nothing to show for it. Bloomberg gives the cheaper thermostat a while to incubate inside Nest, saying the company is aiming for a release "next year."