10:03 AM EDT, 10/08/2024 (MT Newswires) -- (Updates with comment from Amazon ( AMZN ) in third paragraph and share price movement in fifth paragraph.)

Amazon.com's ( AMZN ) Fire TV has been targeted by PDD Holdings' ( PDD ) Temu online marketplace, which has begun offering cheap remote controls compatible with Amazon's ( AMZN ) streaming device, Bloomberg reported Tuesday.

Temu is selling Alexa-activated remote controls compatible with Amazon's ( AMZN ) Fire TV Stick for $4, while generic versions are priced around $10 on Amazon.com ( AMZN ) and official Fire TV remotes cost about $25, according to the report.

In an emailed response to MT Newswires, Amazon ( AMZN ) said it was investigating the situation.

PDD did not immediately respond to a request for comment from MT Newswires.

Amazon ( AMZN ) shares were up nearly 1% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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