Published: Sat, April 21, 2018
Markets | By Terence Owen

Roku shares getting hit as Amazon cuts deal with Best Buy

Roku shares getting hit as Amazon cuts deal with Best Buy

Beginning this summer with a TV from Toshiba, the agreement signs Best Buy on to sell more than 10 4K and HD Fire TV Edition models from Insignia and Toshiba to customers in the US and Canada in the future.

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. Later in the year, these TVs will make their way to Canada as well.

These new smart TVs will make streaming from a TV much easier, while support is included to attach an HD antenna, which would enable Alexa to search for broadcast TV as well, on top of TV episodes and movies from Netflix, Prime Video, HBO, PlayStation Vue, Hulu and more (depending on country).

Fire TV Edition includes a Voice Remote with Alexa for launching apps, searching for TV shows, playing music, switching inputs, controlling smart home devices, and more.

Amazon has started to open its own physical stores throughout the country and bought grocer Whole Foods previous year as well.

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The sets will be exclusively sold in Best Buy stores, on BestBuy.com, and for the first time, on Amazon.com from Best Buy as a third-party seller. It has since added other Amazon devices to its lineup including Fire tablets and TV sticks for streaming content.

As for the TVs themselves, Alexa will be built in and owners will be able to use the personal assistant to do a variety of things, including changing the channels. They will be available from Best Buy's retail stores and website, as well as sold by Best Buy through Amazon.

Best Buy CEO Hubert Joly said the new Fire TVs will provide customers with a "incredible user experience".

Best Buy has survived Amazon's pressure on retail outlets partly by building out its own online commerce efforts.

"More and more what everybody wants is all of this stuff to be more seamless than it is today when you have so many choices out there", he said.

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