After entering the smart-TV sector years ago by licensing its interface and brand, Roku now plans to design and manufacture its own line of TV sets.
The streaming company today said the Roku Select and Roku Plus Series TVs, with 11 models ranging from 24 to 75 inches, will be available this spring. Retail prices will range from $119 to $999.
In its early phase as a company, Roku had made a name for itself by making connected devices — various dongles and “pucks” enabling streaming on screens made by third parties. In 2014, the company embarked on a new effort to team with smart-TV makers like Hisense and others on sets featuring the Roku user interface. Helped by attractive price points, those sets soon accounted for about one-third of the total smart TV market in North America.
Comcast Launches 'Free This Week', Increasing Access To Streaming And Premium Network Fare For Xfinity X1 And Flex Subscribers
The manufacturing news, coming as CES gets its annual tech showcase under way this week in Las Vegas, cheered investors. Roku’s beaten-down stock jumped 5% in mid-day trading to near $43. Once a pandemic darling, Roku shares fell precipitously once Covid lockdowns lifted and declined a startling 82% in 2022 due to advertising weakness and macroeconomic headwinds.
In a note to clients, Guggenheim media and tech analyst Michael Morris called Roku’s decision to make TVs “a key strategic move to driving market share growth.” He also noted the company’s expanded relationship with Walmart via the retailer’s line of smart home products.
The entry into manufacturing is the reverse of what smart-TV makers Samsung, Vizio and LG have done in recent years. While continuing to manufacture electronics, they have expanded their streaming presence across original programming and FAST channels, looking to create advertiser-friendly complements to their hardware.
In addition to the Roku-made TVs, the company also announced a premium OLED TV reference design for its TV partners. OLED, short for “organic light-emitting diode,” is widely considered the best technology for video display panels.
“Over the past 20 years, Roku has been instrumental in what is now the mainstream way to enjoy a great television series, a classic movie, or live sports,” said Mustafa Ozgen, president of devices for Roku. “Our goal is to continue to create an even better TV experience for everyone. These Roku-branded TVs will not only complement the current lineup of partner-branded Roku TV models, but also allow us to enable future smart TV innovations.”
Must Read Stories
‘The Way Of Water’ Will Top $1.5B Today & Become Global No. 1 Release Of 2022
Inside The House Chamber As Kevin McCarthy Fell Short & Lost Control Of The Plot
UK Biz Breathes Sigh Of Relief As Leaked Letter Reveals Sale Is Off Table
Support Floods In After ‘Hurt Locker’ Star Posts From Hospital Bed
Read More About:
Source: Read Full Article