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The Internet of Things (IoT) is the current evolutionary paradigm of networking and the key driving force toward a smart world. Although privacy in the IoT is highly regarded to ensure the protection of users and personal information from the perspective of individual or cooperative users, it's insufficiently studied. As members of the always-connected paradigm of the massive IoT world, people can scarcely control the disclosure of their personal information. The biggest challenge is to allow users to experience the best utilization of IoT-based products and services with the fewest privacy threats and failures. This article provides a holistic view of the challenges of and issues related to preserving IoT privacy, as well as the existing solutions. Privacy by design (PbD) is identified as the key solution for many IoT privacy issues. The article also discusses hot topics in IoT privacy and future research directions.