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Amazon doubling down on Fire TV with newer and cheaper models

Yahoo Finance

Yahoo Finance tech reporter Allie Garfinkle joins the Live show to break down Amazon's new line of Fire TV's that include some more affordable models.

Video transcript

RACHELLE AKUFFO: Amazon is doubling down on its Fire TV business as the company announced it's expanding its line of televisions. Yahoo Finance's Allie Garfinkle is following the story and joins us now for more. Hey, Allie.

ALLIE GARFINKLE: Hi, Rachlle. So the number of Amazon Fire TVs sold globally has officially surpassed 200 million. Now, what does that mean? Today, apparently, it means Amazon is really strengthening its commitment, doubling down on that Fire TV business. Now, what does that amount to? So there were three announcements that were pretty key. The first is that, one, it's launching new sizes of its high-end Fire TV Omni QLED series. And then it's also making a lot of these Fire TVs available in the UK, Germany, Mexico, international expansion.

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However, the thing I got really interested in was that it's introducing a more affordable option, the Fire TV 2 series. So you get a sense of the gulf between prices. The Fire TV 2 series starts at 199.99, while the QLED series starts at almost 450. So this is a surprise for a couple of different reasons. The first is that Amazon announced layoffs earlier this week. And the messaging from Amazon has been about cost cutting efficiency, finding everywhere they can to really find some cuts and efficiencies in the business.

However, this does actually illuminate something that's, I think, a lot broader about Amazon right now. And it's that there are still areas they are investing in. An analyst from CFRA on the show was actually on just yesterday talking about this, how there are still areas that Amazon is ready to throw some money at. For example, Amazon Prime streaming content is going to be one of those areas. For example, Thursday Night Football, they spent a billion dollars on that deal alone. And I think that the Fire TV links up with that. And it's clearly a place where Amazon is ready to bet on itself. And I guess the bottom line here is that it's not that they're not investing right now. It's that they're just not investing in everything.

RACHELLE AKUFFO: So definitely being more strategic here, as a lot of people trying to be more efficient especially this year. Great stuff there. Allie Garfinkle there for us. Thanks so much.