Chromecast: Google Unveils $35 Internet TV Device

by Christopher Freeburn | July 25, 2013 10:55 am

Chromecast: Google Unveils $35 Internet TV Device

google chromecast 284x300 Chromecast: Google Unveils $35 Internet TV Device[1]On Wednesday, Internet search giant Google (GOOG[2]) unveiled a new TV dongle that challenges media streaming devices from other manufacturers[3], including Apple (AAPL[4]).

Google’s new Chromecast is a small accessory that plugs into a TV’s HDMI port. The device, which will retail for $35, allows users to stream video and music from a variety of sources to their TVs. Chromecast also permits the use of both Google’s Chrome web browser and Apple’s iPhone Safari browser on the TV, the Washington Post notes.

Unlike other media streaming devices, users can stream content from their smartphones while using the devices for other tasks. That flexibility gives the Chromecast and edge over competing devices like Apple TV and Roku.

However, the Chromecast lacks the wide array of content sources that rival devices have. The Chromecast can stream content from Netflix (NFLX[5]), but has yet to negotiate deals with other streaming services like Pandora (P[6]).

Still, Chromecast’s $35 price, which is significantly less than the $99 charged for Roku and Apple TV, gives it a competitive position in the media streaming device market.

Shares of Google fell more than 1% in Thursday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/07/google-chromecast.png
  2. GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG
  3. challenges media streaming devices from other manufacturers: http://www.washingtonpost.com/business/technology/google-chromecast-what-is-it-and-how-does-it-compare/2013/07/25/d61e5428-f492-11e2-aa2e-4088616498b4_story.html
  4. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  5. NFLX: http://studio-5.financialcontent.com/investplace/quote?Symbol=NFLX
  6. P: http://studio-5.financialcontent.com/investplace/quote?Symbol=P

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