U.S. Markets open in 1 hr 10 mins

Amazon's New Echo Studio Starts At $199; Sonos Shares Respond Negatively

Tanzeel Akhtar

Amazon.com, Inc. (NASDAQ: AMZN) rolled out the Echo Studio speaker at its annual hardware showcase Wednesday, with prices starting at $199.

Sonos (NASDAQ: SONO) shares fell by 2.8% on the news. 

The Verge, which is reporting live from the event, said the Echo Studio is the latest entry to the Echo smart speaker lineup.

Amazon said it's the “most innovative speaker” that it has built and has the ability to adapt its sound output based on the room in which it's placed. 

It’s available for preorder beginning Wednesday. 

Sonos shares were trading down 2.8% at $14.24 at the time of publication, while Amazon shares were rising by 0.93% to $1,757.88. 

Related Links:

Amazon's PayCode Will Allow Online Shoppers To Pay Cash Via Western Union

Amazon's To Roll Out 0M Employee Advancement Program

Photo courtesy of Sonos. 

See more from Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.