Emboldened by a successful IPO, Roku is reducing the price on the next generation of its best video streaming player in an attempt to fend off competitive threats from Apple and Amazon.
The latest Roku Ultra player announced Monday will sell for $100. That’s a 23 percent decrease from the Roku Ultra released last year, a device that had been selling for $130 until a recent clearance sale.
Roku is also upgrading an array of other streaming devices, priced from $29 to $70, less than week after completing an initial public offering of stock that raised $219 million for the Los Gatos, California, company. In vote of confidence, Roku’s stock has already nearly doubled from its IPO price of $14.
ROKU VS. APPLE
Even with that strong start on Wall Street, Roku still only has a market value of $2.5 billion, making it a relative David battling two Goliaths in Apple ($800 billion market value) and Amazon ($462 billion). Roku also still hasn’t turned a profit.
This story is from the AppleMagazine #310 edition of AppleMagazine.
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This story is from the AppleMagazine #310 edition of AppleMagazine.
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