Spotify Is Entering the Hardware Market
The world's largest audio streaming giant, Spotify (NYSE: SPOT), recently announced the launch of Car Thing, a smart player designed for the car. For a company that's built its success on other companies' devices, this is its first foray into the world of hardware.
Following the April 13 announcement, Spotify's stock price jumped as much as 5% on the day, suggested the move pleased investors. So let's see what the market liked about Spotify's latest announcement.
Car Thing is a smart player designed specifically for car rides that allows users to easily control the audio while on the road. Between its four-inch display screen, circular dial, and embedded microphones, drivers can "ask, tap, turn, or swipe to get to the songs, artists, playlists, or podcasts" they want to hear.
Source Fool.com