Amazon (AMZN) is unveiling at least eight new Alexa products Thursday Sept. 20, in Seattle, where the tech behemoth is headquartered.
The devices, which add to Amazon's menu of 11 smart speakers on sale, will include a voice activated microwave oven, an amplifier, a subwoofer, and a device meant to be used in a car. Some of the devices will be Alexa compatible, meaning that they'll have the ability to connect with Alexa, and some of them will have Alexa built in. Alexa is Amazon's name for an artificial intelligence device that can recognize voice commands to do such things as play music or turn the lights on and off.
The market for smart speakers, of which Amazon controls about 61% according to voicebot AI, is set to expand. People are expected to spend roughly $24 billion on smart speakers by 2024, up from $4.5 billion currently, according to Global Market Insights. And Amazon wants to continue cashing in on that. CEO Jeff Bezos said on Amazon's most recent earnings release that one of the company's goals is to allow people to use Alexa devices "wherever they are."
Amazon recently reached a $1 trillion valuation, but has since dropped from that peak. It's looking to its voice activated device sales to help it get back to that level. Amazon shares rose $18.70, or just under 1%, to $1,945.12 in trading on the Nasdaq stock exchange.
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