Both companies are cutting the prices of their smart speakers in an attempt to grab market share.
(CCM) — Google and Amazon have intensified their struggle to dominate the smart speaker market by slashing the prices of their offerings. For Amazon's Prime Day, an annual event where popular products are heavily discounted, the company plans to offer its Echo smart speaker for just $90 — half its usual price. Prime Day will start at 9pm Eastern Time and run for 30 hours.
Meanwhile, ahead of Amazon's promotional event, Google is offering its Google Home smart speaker, bundled with a Chromecast streaming stick, for just $99. The two products usually cost $129 and $35, respectively. This results in an overall saving of $64, or $30 for purchasers who are only interested in the smart speaker. The bundle is available from the Official Google Store on eBay.
Despite the apparent desire of Google and Amazon to build market share for their products by offering them at ever lower prices, Apple appears to be pursuing a completely different strategy. Its HomePod smart speaker has only just been announced and is not available for sale. When it does hit the market Apple will be asking $350 for it — almost four times more than the discounted price of the Amazon Echo.
The smart speaker market is expected to grow strongly over the next seven years, with sales of $13 billion expected by 2024, according to a new research report by Global Market Insights.
Image: © Amazon.