Comcast Corporation (NASDAQ:CMCSA) has inked a strategic partnership with Walmart Inc. (NYSE:WMT) as it looks to develop and promote smart TVs. The move is part of the cable giant push to diversify its business empire away from the slowing cable business. While reporting the third-quarter earnings, CEO Brian Roberts did hint at the possibility of unveiling smart TVs globally.
Comcast Smart TVs Ambitions
The cable giant is reportedly looking to distribute smart TVs running on Comcast software. Smart TVs should help strengthen the company’s content streaming ambitions. However, it won’t be the first company to unveil branded smart TVs. Roku Inc. (NASDAQ:ROKU), Amazon.com, Inc. (NASDAQ:AMZN), and Apple Inc. (NASDAQ:AAPL) already have smart TVs running on their own software.
According to reports, Walmart is to promote smart TVs being the biggest TV seller in the country. In return, the retailer is poised to get a slice of the revenue generated from the sales. While the two are yet to confirm who will manufacture the TV sets, reports indicate that the smart TVs will come with Walmart branding.
Focus on content Streaming
The unveiling of Smart TVs would go a long way in providing Comcast the much-needed firepower to promote its streaming service Peacock. The company has, in the recent past, increased its focus on the streaming business, seen as an area with tremendous opportunity for growth. Third-quarter results indicating that the traditional pay-tv business is losing subscribers all but continues to support the push for growth in the content streaming business.
Smart TVs would put Comcast in a crowded marketplace already dominated by the likes of Amazon and Apple. However, that won’t be a problem as the Smart TVs would allow the cable giant to expand the reach of its X1 and Flex platform outside its traditional markets.
The strategic partnership would also be a big deal for Walmart as it will be able to enhance its arsenal of value-priced TVs on its shelves. However, it won’t be the first time that the retailer has agreed on a similar deal. The company already partnered with Roku on the sale of several On-branded TVs and soundbars.
Merry Markets is the home of free financial news and analysis on Forex, Stocks and cryptocurrencies. Check out our latest trading guides on best bitcoin trading brokers, Top FX Trading Brokers, and Spread Betting Brokers. Follow our reviews on Easy Markets Website, Forex.com Website and City Index Forex Trading broker.