Why Did Roku Shares Gain Today?

Author: Anusuya Lahiri | October 18, 2021 03:12pm

• Sharp Corp (OTC:SHCAY) will sell smart televisions equipped with Roku Inc (NASDAQ:ROKU) streaming abilities in the U.S. from spring 2022, returning to the American consumer TV market after a six-year hiatus, Nikkei Asia reports.
• As per 2020 data, Samsung Electronics Co Ltd (OTC:SSNLF) leads the U.S. market with a 37% share by value, while LG Electronics Inc (OTC:LGEIY) (OTC:LGEJY) ranks second at 15%, followed by China's TCL at 9.7%.
• Sharp aims to launch liquid crystal display TVs of 50 inch - 75- inch with superhigh-definition 4K display. 
• Sharp will manufacture the sets at a Mexican plant run by Taiwanese parent Foxconn Technology Co Ltd (OTC:FXCOF).
• The TVs will sell with Roku's proprietary software installed under a partnership between the companies. The platform lets viewers watch shows on Netflix Inc (NASDAQ:NFLX), Hulu, and other streaming services.
• Brief Background: In 2016, Sharp stopped selling TVs directly in the Americas by reaching a brand licensing agreement with Chinese home electronics maker Hisense. Foxconn took ever Sharp in August 2016. In 2017, Sharp prosecuted Hisense in a U.S. court for allegedly damaging its brand. The parties mutually agreed to drop the case in 2018 and settle in 2019.
• Price Action: ROKU shares closed higher by 6.19% at $344.46 on Monday.

Posted In: FXCOF LGEIY LGEJY NFLX ROKU SHCAY SSNLF