Sources tell Bloomberg that Amazon (NASDAQ:AMZN) is developing a set-top box to stream media content to televisions.
The new device, which will stream online video content from Amazon, is expected to be unveiled this fall. The set-top box will complement its Amazon Instant video service, allowing the Internet retail giant to channel its streaming content directly to customers’ TV sets.
Amazon has been working on a set-top box for several years, the sources indicated. The project is being headed by former Cisco (NASDAQ:CSCO) executive Malachy Moynihan at Amazon’s Lab126 unit in California.
The new set-top box would compete with gaming consoles that offer streaming functions like Microsoft‘s (NASDAQ:MSFT) XBox and Sony‘s (NYSE:SNE) PlayStation 3, as well as with similar set-top boxes like Apple‘s (NASDAQ:AAPL) Apple TV and Roku.
In recent months, Amazon has moved to increase its library of online video content and develop original programming to lure new viewers.
Shares of Amazon rose almost 2% in Thursday morning trading.