iRobot, a pioneering company in the field of robotic vacuum cleaners, has filed for bankruptcy. According to its CEO, the company's inability to innovate and keep pace with its Chinese competitors has led to its downfall. The CEO stated that the company has fallen behind its Chinese rivals by approximately 4 years in terms of technological innovation. This significant lag in innovation has ultimately led to the company's bankruptcy. The news of iRobot's bankruptcy has sent shockwaves through the industry, with many experts and analysts left wondering how a company that was once a leader in its field could fall so far behind. The bankruptcy of iRobot serves as a reminder of the importance of innovation and staying ahead of the competition in today's fast-paced business environment. As the company looks to the future, it will be interesting to see how it plans to recover from this setback and regain its position as a leader in the industry.