What a shock. Charlie Osborne with the skinny on Amazon’s latest in a long trail of product failures.
Last week, the online retail giant released third-quarter financial results which fell far short of expectations. The Seattle-based firm reported a net loss of $437 million, and Amazon CTO Tom Szkutak disclosed the firm took a $170 million charge “primarily related to Fire phone inventory valuation and supplier commitment costs.”
Amazon’s VP David Limp:
I think people come to expect a great value, and we sort of mismatched expectations. We thought we had it right. But we’re also willing to say, ‘we missed.’ And so we corrected.