Amazon.com Inc. AMZN is planning to launch Amazon-branded TVs as soon as October in the United States, according to a report by Business Insider (via The Verge).
What Happened: The Amazon-branded television sets will have screen sizes “in the range of 55 to 75 inches” and will have compatibility with voice assistant Alexa, as per the report.
While the TVs will be currently designed and manufactured by third parties, including TCL Electronics Holdings Limited TCLHF, Amazon is also designing another TV in-house, the report noted. It is not clear when the in-house developed TV will be launched.
Why It Matters: Amazon’s plan to launch its own branded TV would put the company directly in competition with electronics giants like Samsung and LG Electronics Inc. It could also help the company develop an ecosystem of Amazon devices and services, similar to that of Apple Inc. AAPL.
Amazon already has a partnership with Best Buy Co. Inc. BBY to sell Insignia and Toshiba TVs that run Amazon’s Fire TV software. The company also launched its first series of televisions under the AmazonBasics brand in India late last year.
Price Action: Amazon.com shares closed almost 0.5% lower in Thursday’s regular trading session at $3,463.12 and further declined almost 0.2% in the after-hours session to $3,456.40.
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