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Amazon (AMZN) Bolsters Smart TV offerings With New Lineups
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Amazon (AMZN - Free Report) is leaving no stone unturned to bolster its smart TV offerings on the back of its partnership with Best Buy (BBY - Free Report) .
This is evident from the unveiling of two series of smart TVs from Pioneer and Toshiba.
TVs from both series have built-in Fire TV, which will offer an enhanced streaming experience to viewers.
The new TVs are comprised of Alexa, which will provide a hands-free voice-controlled experience. Users will be able to manage sound and picture settings with their voice commands.
They will also be able to find out the content they want to watch just with hands-free Alexa intelligence.
We note that the popularity and advanced features of Fire TV, and the robust skills of Alexa are likely to aid the adoption rate of underlined series of smart TVs.
Notably, Pioneer smart TV with Fire TVs are available in 43” and 50” model sizes. Further, the TVs support 4K Ultra HD and feature picture-in-picture function, HDR10, Dolby Vision and multi-room music capabilities, and offers surround-sound experiences.
The 43” model will be shipped from this month, whereas the 50” one will begin in November 2021. Customers will be able to buy the TVs at Amazon and Best Buy. Also, those who will place orders on Amazon can collect the TVs from the local Best Buy store.
Then again, Toshiba smart TVs feature high-end picture quality in large format sizes — 55”, 65” and 75”, motion processing, and local dimming. Also, the TVs have a built-in 4-array microphone.
The TVs are expected to start rolling out during the spring season of next year.
Wrapping Up
We believe that the latest move is expected to help Amazon in strengthening its presence in the booming smart TV market.
According to a report from ResearchandMarkets, the global smart TV market is expected to witness a CAGR of 17.8% between 2021 and 2027.
Grand View Research data shows that demand in the particular market is likely to see a CAGR of 20.8% between 2021 and 2028.
Additionally, the move has strengthened the company’s partnership with Best Buy, which began in 2018. Since then, both companies have been gaining strong traction in the underlined market on the back of solid adoption of Fire TV smart TVs across the United States and Canada.
However, the smart TV market is currently witnessing intensified competition as not only Amazon but also other players like Roku (ROKU - Free Report) and Alphabet’s (GOOGL - Free Report) Google, which offer smart TVs with built-in streaming media players, are making concerted efforts to bolster their presence in the market.
This remains a major risk for Amazon, which carries a Zacks Rank #4 (Sell) at present.
Image: Bigstock
Amazon (AMZN) Bolsters Smart TV offerings With New Lineups
Amazon (AMZN - Free Report) is leaving no stone unturned to bolster its smart TV offerings on the back of its partnership with Best Buy (BBY - Free Report) .
This is evident from the unveiling of two series of smart TVs from Pioneer and Toshiba.
TVs from both series have built-in Fire TV, which will offer an enhanced streaming experience to viewers.
The new TVs are comprised of Alexa, which will provide a hands-free voice-controlled experience. Users will be able to manage sound and picture settings with their voice commands.
They will also be able to find out the content they want to watch just with hands-free Alexa intelligence.
We note that the popularity and advanced features of Fire TV, and the robust skills of Alexa are likely to aid the adoption rate of underlined series of smart TVs.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
More Into the Headlines
Notably, Pioneer smart TV with Fire TVs are available in 43” and 50” model sizes. Further, the TVs support 4K Ultra HD and feature picture-in-picture function, HDR10, Dolby Vision and multi-room music capabilities, and offers surround-sound experiences.
The 43” model will be shipped from this month, whereas the 50” one will begin in November 2021. Customers will be able to buy the TVs at Amazon and Best Buy. Also, those who will place orders on Amazon can collect the TVs from the local Best Buy store.
Then again, Toshiba smart TVs feature high-end picture quality in large format sizes — 55”, 65” and 75”, motion processing, and local dimming. Also, the TVs have a built-in 4-array microphone.
The TVs are expected to start rolling out during the spring season of next year.
Wrapping Up
We believe that the latest move is expected to help Amazon in strengthening its presence in the booming smart TV market.
According to a report from ResearchandMarkets, the global smart TV market is expected to witness a CAGR of 17.8% between 2021 and 2027.
Grand View Research data shows that demand in the particular market is likely to see a CAGR of 20.8% between 2021 and 2028.
Additionally, the move has strengthened the company’s partnership with Best Buy, which began in 2018. Since then, both companies have been gaining strong traction in the underlined market on the back of solid adoption of Fire TV smart TVs across the United States and Canada.
However, the smart TV market is currently witnessing intensified competition as not only Amazon but also other players like Roku (ROKU - Free Report) and Alphabet’s (GOOGL - Free Report) Google, which offer smart TVs with built-in streaming media players, are making concerted efforts to bolster their presence in the market.
This remains a major risk for Amazon, which carries a Zacks Rank #4 (Sell) at present.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.