Sydney: Lock maker August has started shipping its highly anticipated product known as the August Smart Lock and it is a coincidence that August Smart lock has hit the market in August only.

The August Smart Lock is billed as a "safe, simple and social way to manage your home's lock." The product lets you unlock your front door electronically, from your phone.

It also allows you to hand out electronic keys to your front door and have the key expire after an hour.

The anticipation around this lock has been very high since its launch in May 2013. The lock was first displayed at CES in Las Vegas this year but its release has been delayed due to some reasons.

Sources said that August has now started shipping this modern lock to people who have placed pre-orders. The Smart Locks are priced for $US249.99.

The Smart Lock attaches to the inside of a door. It is powered by batteries but will not work with mortice or "Euro-style" cylinders.

The Smart Lock will come loaded with Android and iOS apps. The company said that the users will have to download these apps in order to operate these locks.

The app has a feature known as "EverLock", that locks the door the moment you leave the house. It will also automatically unlock the door for you when you approach the house.

The app makes use of the Bluetooth of the phone and can detect when it's in range of your door, sending the unlock signal the moment it detects the door's Bluetooth and the lock signal when it detects the door's Bluetooth signal is fading.