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TheStreet Open House

Amazon Set to Debut Streaming Product Next Week

Stocks in this article: AMZNBBYSPLSAAPLGOOGNFLXP

NEW YORK (TheStreet) -- Amazon (AMZN) has sent out invitations to an event in New York next Wednesday which is expected to mark the debut of the company's eagerly-anticipated streaming device.

The invitation, which shows an armchair and a bowl of popcorn, clearly indicates the company's desire to make inroads into the living room. "Please join us for an update on our video business," it says.

Speculation has swirled for months around Amazon's next big product announcement and media reports have pointed to the launch of a streaming device.  TechCrunch reports that the device could come in dongle form and start shipping in April via Amazon's Web site and retailers such as Best Buy (BBY) and Staples (SPLS).

A number of tech heavyweights, however, are already playing in this space. An Amazon streaming product would be up against Apple's (AAPL) Apple TV, Google's (GOOG) Chromecast and Roku's streaming device. There has been chatter that Amazon's new offering could be part of the Kindle Fire family and carry Netflix (NFLX), Pandora (P), Hulu Plus and Amazon Instant Video.

Amazon shares dipped 0.99% to $340.03 during Thursday trading.

 --Written by James Rogers in New York.

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