Roku plunges after Best Buy and Amazon partner to sell smart TVs

Roku plunges after Best Buy and Amazon partner to sell smart TVs

6 years ago
Anonymous $CLwNLde341

https://www.cnbc.com/2018/04/18/roku-plunges-after-best-buy-and-amazon-partner-to-sell-smart-tvs.html

Shares of Roku plunged more than 9 percent on Wednesday after Amazon and Best Buy announced they would team up to sell smart TVs.

Under the terms of the new deal, Best Buy will become one of the only brick and mortar retailers where customers can walk in and buy a TV powered by Amazon's Fire TV software. The TVs will also be sold on Best Buy's website. In exchange, Best Buy will be a third-party seller on Amazon.com, giving the retailer access to Amazon's vast customer network.