Apple (AAPL - Free Report) recently partnered with Samsung, one of its long-standing rivals, to make iTunes content available on the latter’s smart TVs, per CNBC.
The Korean smartphone maker will include an app to its smart TV sets in the upcoming months, allowing users to easily watch iTunes movies and TV shows. Additionally, users can purchase and rent new content from the app.
Samsung noted that it will add Apple's AirPlay 2 software to the TVs, thereby allowing iPhone and iPad users to stream their device content on smart TVs.
Samsung Partnership: A Smart Move by Apple
Apple’s partnership with Samsung is expected to help the company reach customers outside the iOS ecosystem, thereby boosting its service reach. Notably, Samsung commanded 33% smart TV market share in the United States in 2018, per Statista, and is also the world’s largest TV manufacturer with more than 20% market share.
Moreover, if Apple includes its streaming content in the smart TV app, this may help the company fend off competition from the likes of Netflix (NFLX - Free Report) and Amazon (AMZN - Free Report) Prime, as it increases user reach.
Apple Inc. Revenue (TTM)