Technology is important for success in online stock trading. Nothing can be left to chance. The right decisions need to be made based on hard facts and analyst insight. That's when the benefits of advanced stock trading software come in handy. Technology is also a major trump card for businesses to generate interest in a new product, facilitate sales and thereby its stock market performance.
Amazon and Tencent Invest in Essential
Amazon.com ($AMZN) is investing $300 million of its Alexa Fund into the startup Essential, and Essential is busy making the first modular smartphone. Tencent Holdings Limited (TCEHY), the Chinese conglomerate, is also investing. If Essential doesn't ring a bell, remember that it's founded by Andy Rubin, the guy who also founded Android. The details of the potentially groundbreaking smartphone are already out - a 360-degree camera, charging dock, titanium-ceramic finish, plus other features.
Amazon Could Get Alexa Voice Assistant Onboard
Does the Amazon investment hint of something? Amazon has the Alexa voice assistant, which is the prime candidate to become the default voice assistant for the smartphone. After all, the Alexa Fund offers venture capital funding of up to $100 million just for advancing innovation in voice technology.
The phone will be launched in a few weeks, according to Essential, and will be priced at $699. Essential has signed up Sprint ($S) and TELUS ($TU) for distributing the smartphone in the United States. Its features and pricing take it straight into the realm of Apple ($AAPL) and Samsung ($SSNLF) smartphones. What Essential lacks right now is the distribution network of its competitors and also their brand positioning. That's why the company is setting initial sales target of anywhere from 1 to 3 million phones in its first year. The use of materials such as titanium and ceramic make the production process slightly challenging. Amazon and Best Buy could be the retailers.
Amazon’s Previous Smartphone Foray
The market valuation of the startup runs up to a billion dollars. All sounds fine, but remember that Amazon's previous entry into the smartphone segment wasn't successful. Amazon's Fire did feature face recognition technology and 360-degree screens but, priced comparable with Apple's iPhone, it found really few takers.
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