Amazon Echo enters India
On the day Alphabet’s (GOOGL) Google unveiled a slew of new gadgets, including its new smart speakers, Amazon (AMZN) announced the launch of its Echo smart speaker in India (INDA) and an upcoming launch in Japan (EWJ).
Amazon has stepped up its efforts in India’s e-commerce industry. The Echo launch was part of that effort. India is a coveted market for many technology companies.
Battle for India’s technology economy
Apple (AAPL) began producing iPhones in India this year as it seeks to grow its share of the country’s booming smartphone market. Google and Facebook (FB) are working to connect more Indians to the Internet through initiatives such as Project Loon. Google and Microsoft (MSFT) are also eyeing the Indian market for their cloud computing businesses.
Amazon’s launch of the Echo could be viewed as part of the efforts the company is making to bolster its influence in India’s technology market.
Echo to cost $153 in India
The worldwide market for smart home systems such as smart speakers is expected to be worth $155.0 billion by 2022 compared to $90.0 billion this year, according to Strategy Analytics. That’s the revenue opportunity Amazon is pursuing with its Echo smart speakers.
In India, the flagship Amazon Echo speaker will sell for $153. Amazon recently cut the US (SPY) price of the device, possibly to counter the wave of competition from Google and Apple.