At the end of 2020, Amazon Inc (NASDAQ:AMZN) launched its AmazonBasics TV in India, and now the e-commerce giant wants to do the same in the U.S. According to sources, the idea has been in the blueprint for two years and the possible partner to help manufacture the product is TCL Technology Group Corp (SHE:000100).
Q2 2021 hedge fund letters, conferences and more
Key Partnerships
Further, Amazon has reached an agreement with other manufacturers such as Toshiba Corp (TYO:6502) to incorporate Fire TV in their new television sets. This way, users will be able to access streaming platforms –Netflix Inc (NASDAQ:NFLX), HBO, and Amazon Prime– via HDMI port.
The company divisions in charge of the development of this project are Amazon Devices and Lab126 –the firm’s R&D center.
Screen size is expected to be between 55 and 75 inches, and the device is forecast to launch at an affordable price. According to The Verge, Amazon’s strategy in India was to offer prices hovering around $550 for a 55-inch television with minimum features.
However, the company is yet to compete with higher-end OLED technologies offering HDMI 2.1 ports.
At the moment, the first models are expected to arrive in the U.S. as of October, and since the company has been somehow hermetic about further specs and product strategy, consumers are likely to witness Amazon’s bet for the first time once the devices hit the stores.
Competing In The Market
The arrival of these Smart TVs to the market could pose a threat to those traditional manufacturers that compete in the same range and sell online from Amazon.
“This rumored new Amazon-branded TV could indicate that the company is stepping up its television efforts to take on TV stalwarts like LG and Samsung more directly,” The Verge reports.
In early August, Amazon and Best Buy Co Inc (NYSE:BBY) announced then-new Insignia and Toshiba TVs that run Amazon’s Fire TV software.
“The latest F50 series improves on previous 'Fire TV Edition' sets —Amazon is just calling them 'Fire TVs' now —with expanded quantum dot HDR color for a more vivid picture.”
Amazon is part of the Entrepreneur Index, which tracks 60 of the largest publicly traded companies managed by their founders or their founders’ families.
