wnol.info May 25 2018

Amazon and Best Buy partner to sell smart TVs

May 25 2018, 02:50 | Alonzo Simpson

Best Buy and Amazon partner up in exclusive deal to sell new TVs

Best Buy CEO Hubert Joly and Amazon's Jeff Bezos came together Tuesday to discuss the deal

The Richfield-based retailer will roll out almost a dozen 4K and HD Fire TV Edition models from Toshiba and Insignia, the latter of which is one of Best Buy's private-label brands, starting this summer. "Roku TVs are available at Best Buy and are sold across all the major retailers, making it easy for consumers to choose from dozens of Roku TV models". "Clearly, Amazon has been a leader in the bolt-on business with the Fire TV sticks and boxes, but they were behind a little bit in getting out to televisions".

But Best Buy and Amazon did not say how much the TVs will cost or what size screens Toshiba and Insignia will be selling. With true-to-life 4K UHD picture quality, premium Dolby surround sound, and access to all the movies and TV shows you love, Fire TV Edition delivers a superior TV experience that gets smarter everyday with Alexa.

Amazon has started to open its own physical stores throughout the country and bought grocer Whole Foods a year ago as well. It can also be paired with any Echo device, allowing customers to easily use their voice to control their TV experience hands-free with Alexa, according to a press release.

Fire TV is built-in to the new TVs, combining live over-the-air TV and streaming content in one location. Roku shares fell 7% Wednesday as a result.

The sets will be exclusively sold in Best Buy stores, on BestBuy.com, and for the first time, on Amazon.com from Best Buy as a third-party seller.

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The WSJ reports six years ago Best Buy was close to shutting its doors completely but after focusing on its e-commerce stores and price matching with Amazon it has survived the volatile market.

This is all great news for Best Buy.

Joly said this is another example of Best Buy partnering with the world's foremost technology companies to bring the best products to customers.

"More and more what everybody wants is all of this stuff to be more seamless than it is today when you have so many choices out there", he said.

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