Thermostat
THERMOSTAT
Your fancoil thermostat is the “brain” of your unit. It is the main control point that determines when and for how long cool/heat will be delivered by the fan coil. To think of it in simple terms, it is simply a temperature-sensitive switch. The one unique feature with a fancoil thermostat vs the operation of a furnace in a house is fancoils have multispeed fans. They switch between a low/med/hi operation. For this reason only certain thermostats are compatible with them.
Industry standard would be the Honeywell TB7100 and TB8575. Smart thermostats have recently adopted software that allows the multispeed output. Notably ECOBEE 3 lite and above and the NEST PRO. (Not NEST E)
Thermostats being electromechanical devices (software driven circuit boards with electromechanical switches i.e. relays) are susceptible to failure like any other device. Display can go dead, relays fail, contacts etc.