by William White | October 4, 2013 10:43 am
Amazon (AMZN) is preparing to release its own web streaming box, code named “Cinnamon”, for the holiday season.
According to The Wall Street Journal, the web streaming box will carry Amazon’s video streaming service, which is currently only available through other devices, such as a Roku or Microsoft’s (MSFT) Xbox. The company hasn’t announced a price for Cinnamon, but Amazon does like to sell its hardware for little more than the cost to manufacture it. The company does this in hopes that it can make its money through services that it offers on its devices. Other web streaming boxes can cost anywhere from $50 to $100. Amazon also hasn’t announced a release date for the web streaming box. Sources close to the matter claim that app developers have been given until mid-October to submit apps for the device. Amazon likely hopes that the new box will boost its Prime service, which cost $79 a year and provides users with access to Amazon’s video streaming service and two-day shipping for most items ordered through the online retailer.
Reports that Amazon was preparing its own web streaming box started in April. According to those reports, the project has been in development for years and is being headed by Amazon executive Malachy Moynihan.
Source URL: http://investorplace.com/2013/10/report-amazon-to-release-web-streaming-box-in-time-for-holidays/
Short URL: http://invstplc.com/1fwOtQ4
Copyright ©2014 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.