Roku shares getting hit as Amazon cuts deal with Best Buy

Retail Rivals Amazon and Best Buy Team Up to Sell Smart TVs

The Richfield-based retailer will roll out almost a dozen 4K and HD Fire TV Edition models from Toshiba and Insignia, the latter of which is one of Best Buy's private-label brands, starting this summer.

Notably, this announcement also implies that Insignia TVs (Best Buy's house brand) may drop software from Roku in favor of Amazon's, though Roku TVs from other manufacturers will surely still be sold.

"Amazon and Best Buy have a long history of working together, and today we take our partnership to a new level", Amazon founder and CEO Jeff Bezos said in a statement, adding that Amazon "could not have a better partner".

More news: Fortnite Battle Royale is getting a Light Machine Gun

The first Fire smart TV from Toshiba will be available in the United States this summer, with additional models released later this year.

"These Fire Edition smart TVs by Insignia and Toshiba deliver attractive visuals and all the movies and TV shows you love, with an experience that gets better every day with Alexa", says Bezos.

But the smart TV and voice assistant field is growing increasingly crowded. Consumers will also be able to use Alexa by speaking through the TV's remote control or by linking it up to an Echo device to search for programs, see the weather forecast, or read lyrics while streaming songs.

More news: Trump Wants Judge To Stop Review Of Materials Seized In Cohen Raids

The new TVs from Toshiba and Insignia will be branded "Fire TVs" and stream content from apps such as Netflix, HBO, PlayStation Vue, Hulu and Amazon Prime Video. Roku shares fell 7% Wednesday as a result.

Best Buy will be the exclusive retailer selling the TVs as part of a multiyear agreement that deepens the relationship between the two companies. Shares rose almost 4% Wednesday and are now up more than 10% this year.

Best Buy will sell them in its stores and online in the USA, and later from Canada.

More news: Real, Zidane: "Juve? I get mad when people talk about injustices..."

The partnership is a win-win for the online giant and Best Buy. But you can buy iPhones, Androids and other Apple and Google products at Best Buy stores and on its own website too.

Related:

Comments

Latest news

Martha, Bela Karolyi say 'no way' they knew about Larry Nassar
The 22-year-old said she has been empowered by the outpouring of support from others since coming forward, she said. She tells Savannah Guthrie in "no way" did she suspect Larry Nassar was sexually abusing athletes.

Manchester United's Chris Smalling: FA Cup win would represent successful season
Chelsea have progressed to the final from 11 of their last 14 FA Cup semi-final matches, losing out only in 1996, 2006 and 2013. However, it is still up to Pochettino and his men to prove him wrong, and beating Manchester United is the only way to do so.

Why Amazon's Alexa Skill Blueprints are a master stroke
A new feature called Alexa Blueprints provides more than 20 templates for writing out your own voice commands and responses. Where IFTTT connects with all manner of apps and services, Alexa Blueprints is mostly still kept to itself.

Khloe Kardashian Wishes Sister Kourtney a Happy Birthday With Heartwarming Throwback Pics
It will also be a special occasion for actress America Ferrera , who is days away from welcoming her first child . A source told Entertainment Tonight that Khloe is actually feeling confused about what to do with Thompson .

SpaceX Properly launches NASA's TESS hunter
The planned launch of TESS comes on the heels of NASA delaying the liftoff of its hotly-anticipated James Webb Space Telescope . EDT because the satellite had to get close to the moon to use its gravity in achieving its final orbit.

Moto E5 and E5 Plus hands-on preview: Your next cheap phone
The Moto G6 includes the camera features that were included with the flagship Moto Z2 , and later the upper mid-range Moto X4 . As for optics, there is a 13-megapixels with PDAF and LED flash while at the front, there is a 5-megapixels with selfie flash.

Russian hackers are attacking millions of vulnerable routers
And two: "Encourage industry to secure the devices we depend on", White House cybersecurity coordinator Rob Joyce said. Russian Federation has not responded to the joint alert.

Assad ultimately to blame for missile attack on Syria
The accounts contradict what the Syrian government and Russian Federation have reported: that there was no gas attack in Douma. Early Tuesday, the government-run Central Military media reported a missile attack on the Shayrat air base in Homs province.

BMW M2 Competition Revealed With 405 HP
The seats are solid-backed race-style buckets with integrated headrests and incorporate an illuminated M2 logo at shoulder height. The manual auto hits 60 miles per hour in 4.2 seconds, and you can slice that 0.2 second off that figure with the M DCT box.

Study Finds Over 3300 Android Apps Have Been Tracking Kids
So far, three apps have been identified to fall into this category and they have since been removed from the Google Play Store . The Federal Trade Commission of United States had warned BabyBus in 2014, for potential collection of geolocation data.

Sioux City Younkers to close, according to reports
The Younkers brothers opened their first store - a general store in Keokuk - in 1862. Bon-Ton has 700 employees at its corporate offices in downtown Milwaukee.

Suspected Toronto serial killer charged with 8th murder
So far police have not found any links between Kanagaratnam and Toronto's Church-Wellesley Village or LGBT communities. Investigators say he was identified after they released photographs of the man and appealed to the public for help.

Double gold for NZ Sevens teams at Gold Coast Commonwealth Games
It was a one-sided men's final as New Zealand killed off the game with two early converted tries against a ragged Fijian defence.

Jets grounded by blizzard, trip for Game 3 delayed
If they keep taking penalties and giving up that many shots Elliott is going to have to be the difference in the series. It didn't take the Flyers almost as long to beat Murray again. "It's not about proving anything", said Elliott.

Manchester City on brink of title after victory
Despite wins over United, Liverpool and Arsenal at Wembley, they were outplayed and outsmarted by City on the night. It ended a 14-game unbeaten run in the league for Tottenham that began after losing at City in December.

Other news