Jeff Bezos-Era 'Downstream Impact' Losing Its Mojo? Amazon CEO Andy Jassy Is Reportedly Rethinking Alexa Devices Business Model Resulting In Billions Worth Of Losses

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However, the company’s plan to capitalize on the devices’ popularity by driving sales on its e-commerce platform has not panned out, reported The Wall Street Journal on Monday, citing internal documents and people familiar with the business.

Amazon’s devices business, which includes Echos, Kindles, Fire TV Sticks, and video doorbells, has incurred losses of over $25 billion between 2017 and 2021.

Amazon.com Inc.‘s (NASDAQ:AMZN) strategy of selling its Echo devices at low prices in the hope of generating profits elsewhere within the company has not yielded the expected results.

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Article Details

Category: Technology

Markets: United States

Topics: Jeff Bezos Generative AI News GOOG Rtificial intelligence Alexa US38259P5089 Kaustubh Bagalkote GOOGL AMZN Management Benzinga US0231351067 Tech Equities US38259P7069 Markets Andy Jassy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 05:15:16 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 574 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21745512

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