Market Overview

Facebook's Portal TV Gives Roku Investors Pause

Facebook's Portal TV Gives Roku Investors Pause

Facebook, Inc. (NASDAQ: FB) is preparing to launch Portal TV, a clip-on camera accessory for video calling, AR gaming and content co-watching. The news sent Roku Inc (NASDAQ: ROKU) shares lower. 

Roku already sells multimedia devices designed to deliver a number of streaming services to any TV or monitor.

Facebook will begin shipping Portal TV Nov. 5 for $149, or buyers can also bundle two Portal devices together and receive $50 off, according to The Verge. Portal TV is one of three smart video chat devices the company is announcing Wednesday. 

In a separate report, Reuters attributed the slide in Roku shares to Comcast's (NASDAQ: CMCSA) announcement that it will offer Xfinity Flex, its streaming media set top box, and a voice remote for free to its internet-only customers.

Facebook shares were down 0.13% in Wednesday's premarket session, while Roku shares were down 4.85%. 

Related Links:

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Photo courtesy of Facebook. 

Posted-In: Portal TV Xfinity FlexCryptocurrency News Top Stories Markets Tech Media Best of Benzinga


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