TiVo shares crashed 10 per cent at one point on August 17th when news emerged that Amazon is contemplating building its own TV recorder.
TiVo shares were already under pressure having fallen some 30 per cent over the past year.
The potential Amazon device would function as a TV recorder and also a streaming device able to send video content to smartphones and tablets.
Bloomberg reported that the device (with a codename of ‘Frank’ within Amazon) is a new type of digital video recorder for the streaming era. It would include physical storage and connect to Amazon’s existing Fire TV boxes, the living room hub for the company’s online video efforts, according to sources.
Bloomberg added that its source says the project may not see the light of day, but it comes from Amazon’s Lab 126 R&D facility, and the same unit which developed the Alexa speaker system and which is also building a home robot – Project C-Vesta.