Roku enters TV manufacturing business with spring launch set

Roku unveiled its first branded HD and 4K TVs designed and manufactured by the company during the Consumer Electronics Show on Wednesday, marking its first foray into the TV manufacturing business.

The Roku Select and Roku Plus series TVs will launch in spring 2023. The TVs will be available in 11 sizes ranging from 24 to 75 inches at retail prices ranging from $119 to $999. All HD offerings will include the Roku Voice Remote, while all Plus Series TVs will come with the Voice Remote.

Roku-branded TVs will take advantage of their new wireless soundbars to offer an expanded audio ecosystem. Additionally, all models will continue to offer fan favorite features including Find My Remote, private listening and access to live TV and sports content.

“Over the past 20 years, Roku has been instrumental in becoming a mainstream way to enjoy a great television series, a classic movie or live sports,” Mustafa Ozgen, president of Roku’s Devices, said in a statement. “Our goal is to continue to create a better TV experience for everyone. These Roku-branded TVs will not only complement the current lineup of partner-branded Roku TV models, but will also allow us to enable future smart TV innovations The streaming revolution has only just begun.”

The move comes as Roku faces pressure from rivals such as Amazon and Google, which offer TV hardware of their own. In addition, economic uncertainty prompted the company to lay off 200 people, or 5% of its workforce, in November.

Stephens analyst Nicholas Zanger wrote in a note to clients on Wednesday that the move “enables the company to retain better control of its own destiny by building more direct relationships with retailers and through attractive product pricing.” Is.”

Roku lays off 5% of US workforce citing 'economic conditions'

“A Roku-branded TV increases the number of gateways for the consumer from two to three, protecting the company from the long-term threat of player obsolescence and TV OEM displacement,” Zanger wrote.

In the third quarter of 2022, Roku reported total net revenue of $761 million, including $670 million in platform revenue.

The company’s gross profit fell 2% year over year to $357 million and its average revenue per user increased 10% year over year to $44.25. As of the end of the third quarter, Roku reported a total of 65.4 million active accounts.

Roku shares climbed 6% during Wednesday’s trading session, but have fallen 80% over the past year.

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