The Nest Thermostat E is smart, merges in with the wall, and costs $169

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Nest, the smart connected device company owned by Alphabet (which also owns Google), launched a new thermostat this week that's much cheaper than its main Nest Learning Thermostat product. The new device, which was rumored to be in development several months ago, is the Nest Thermostat E.

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Compared to the Nest Learning Thermostat, the new E product is designed to merge with the background of the wall, thanks to its frosted display that can be read better when you get physically close to it.

The polarized lens is supposed to soften the LED when you move away from it, so it doesn't call attention to itself.

However, the Nest Thermostat E still has most of the same connected features as its older counterpart. It can automatically adjust the temperature in the house depending of the time of day, and can also sense when people are not in the house and adjust things accordingly. Owners can also control it remotely with the Nest app. The new product does not show the time of day or the weather outside, like its older version, and may also not be compatible with some higher end heating and air conditioning systems.

The biggest difference between the two models is that while the older Nest Learning Thermostat is priced at $249, the new Nest Thermostat E costs just $169. That could make it more attractive to average home owners who want to join the connected house trend.

Nest has also sent out invites to members of the media for a big press event that it will hold on September 20. There's no word yet on what the company might reveal on that date, although previous rumors claim it may be making a connected doorbell or some other home security products.

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