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Roku is expanding its product line to include a range of smart TVs that are designed and built in-house. The Roku Select and Roku Plus Series TVs will be Roku-branded HD and 4K TVs available across 11 models, ranging from 24” to 75” in size, and made to work well with Roku’s growing line of audio products.
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Lower-end Roku Select models will ship with the standard Roku Voice Remote, and the Plus series will include the Voice Remote Pro that’s capable of hands-free voice commands and has a rechargeable battery. Roku’s TVs will begin shipping this spring. The announcement comes only a few months after Roku entered the smart home category by selling relabeled Wyze products under its own brand.
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Roku’s deeper moves into the hardware space come as the company grapples with poor ad sales amid a downturn in the broader digital advertising market. While Roku sells hardware like its streaming devices and TVs, the vast majority of its revenue comes from its Platform business, which is made up of ad sales.
Why it matters
The new product announcements come on the heels of Roku’s third-quarter earnings, which worried investors despite topping Wall Street estimates with revenue of $761.4M, up 12% year over year, and a net loss of 88 cents per share, below the $1.28 expected. Furthermore, Rival Amazon started selling similarly priced Fire TV sets in 2021, which would have pushed the move into hardware for the brand.
