Facebook's Hardware Ambitions Go Beyond Device Sales

Facebook (NASDAQ: FB) has been pushing to develop more hardware devices since it acquired Oculus in 2014. More recently, the company has seen success with its Portal video-calling devices. The launch of the Portal last fall led to a 42% increase in payments and other fees revenue from devices for Facebook in the fourth quarter.

Since last fall, the social media company has reportedly been working on a Portal device that uses a standard television set for the display. It seems to have progressed well, and Facebook is now approaching streaming media companies to support the forthcoming device with a launch date planned for this fall, according to The Information.

Facebook isn't just looking to cut out costs from its popular device and make it less expensive for people to buy and use; it's looking to compete with Amazon (NASDAQ: AMZN) and Roku (NASDAQ: ROKU) for an increasingly important space in consumers' living rooms.

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