Just days after Fox Corporation completed its landmark $22 billion acquisition of Roku, the company confirmed it is exiting the smart home hardware business. Effective immediately, Roku is phasing out sales of its connected indoor and outdoor security cameras, video doorbells, smart plugs, and lighting products to double down on its core streaming television platform. Despite 33% year-over-year device revenue growth, rising memory component costs doubled Roku’s hardware losses to $48.6 million in Q3. Company officials assured existing customers that ongoing software updates and cloud monitoring services for previously purchased smart home devices will continue uninterrupted.
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