Roku exits smart home market to focus on streaming

Roku has confirmed it is winding down sales of its smart home hardware, such as cameras, smart bulbs, and video doorbells, to sharpen its focus on being a top streaming platform. The company will continue to provide support and services for existing smart home products. The decision follows Fox's $22 billion takeover of Roku and comes after the company reported hardware losses doubling to $48.6 million in the third quarter, driven largely by increased costs of memory components. Roku initially pushed into the smart home market in 2022 and had gradually been shifting away from the hardware in recent months.