Market Overview

Amazon Debuts New TV Products, Partnerships

Amazon Debuts New TV Products, Partnerships, Inc. (NASDAQ: AMZN) announced Wednesday a new lineup of hardware products that focuses mostly on TV and streaming video.

What Happened

Amazon introduced an updated version of its Fire TV Cube, which is nearly twice as fast as the previous generation. The new model shares similar features as the first generation model but with improved voice commands, like increase volume or return to the home screen.

Amazon uses a new processor in its hardware while the expanded voice control can execute a feature immediately instead of going through the cloud first, according to CNBC.

Amazon detailed multiple new ancillary products with third-party partners, like a new Nebula soundbar that supports Fire TV. The company will also sell Fire TV Edition smart TVs across the world through partnerships with Dixons Carphone, MediaMarktSaturn's IMTRON and Grundig.

Why It's Important

Amazon VP of product development for Fire TV Sandeep Gupta told CNBC Fire TV Cube owners interact with the hardware through voice more than other Fire TV product owners. In fact, almost 80% of Fire TV Cube users also take advantage of other features like device automation and smart home devices.

Amazon's expansion to new business lines extends beyond just TV and streaming video, according to Tigress Financial's Ivan Feinseth. He said this demonstrates Amazon's desire to revolutionize industries by applying new technologies with its supply chain and logistics expertise to "make the rituals of buying staple products more convenient and efficient."

"I believe significant upside exists from current levels and continue to recommend purchase," Feinseth wrote in his daily newsletter.

The new Fire TV Cube will sell for $119.99 and pre-orders in the U.S., U.K., and Germany be fulfilled on Oct. 10 followed by a launch in Japan on Nov. 5.

Related Links:

Roku Leverages Recent Momentum With New Line Of Audio Devices

RBC Remains Bullish On Amazon Due To 'Growth Curve Initiatives'

Latest Ratings for AMZN

Jun 2020MizuhoMaintainsBuy
Jun 2020Deutsche BankMaintainsBuy
Jun 2020SunTrust Robinson HumphreyMaintainsBuy

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