Google shares fall despite beating Amazon in the smart home speaker market

Google shares opened lower Thursday despite news the tech giant has shipped more smart home speakers and mini devices than rival Amazon.

Google shares fall despite beating Amazon in the smart home speaker market

Google shares opened lower Thursday even though a new report suggests the tech giant beat out competitor Amazon in the smart home speaker market during Q1. A report from Canalys shows Google shipped 3.2 million smart speaker devices compared with 2.5 million orders for Amazon’s Echo.

Google shares opened 0.15% lower at $1,084.31 , while Amazon shares also opened in the red, down 0.30% at $1,596.98.

Google Home wins out

The research by Canalys shows that Google Home and Home mini devices proved the most popular in the growing smart home speaker tech market between January and March 2018.

The detail of the report shows that the US market share of new smart speaker fell to below 50% during the period. And, this is likely where Google made its gains.

Although both tech firms are working hard to make a significant entry into overseas markets, Google is working with local service providers in India and placing it speakers alongside their brands – a tactic that appears to be working.

“Google has several advantages over Amazon that have helped it move ahead,” said Canalys Analyst Ben Stanton.

“But its biggest advantage is in the channel. Operators and retailers tend to prioritize Google’s speakers over those from Amazon, as Amazon is in the tricky position of being a direct competitor,” Stanton added.

Google updates code of conduct

Separately, Google has removed the phrase “don’t be evil” from its Code of Conduct. Or rather, it’s removed it from the start of its code and only mentions it once, right at the very end: “And remember… don’t be evil”.

The phrase was previously a well-known catch-phrases for the business. However, it has been replaced with suggestions of considering ethical business conduct.

The change has been pointed out amid the tech giant’s decision to develop AI technology with the US military. The move has been widely criticised and has led to some employees leaving the company in protest.

Top Equities Brokers

0 Brokers added for comparison:
Clear all