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Amazon steps into the gaming market

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Amazon unveiled a host of new products yesterday, including a notable bid to capture a slice of the video game market. The firm is launching a new cloud video game service called Luna, that works similarly to a TV streaming service such as Netflix. Instead of gamers having to download and install games, they will be able to instantly play them after selection. Amazon will charge 5.99 a month for the service and will also sell a 49.99 controller that can connect to a variety of devices. Instead of expensive gaming hardware, consumers will just need a strong internet connection and a compatible device for the game to stream on. It is early days for the service, but Amazon already owns dominant video game live streaming platform Twitch, which may help it take on Microsoft, Nvidia and Google who are also vying to dominate the nascent cloud gaming market. Amazon stock had a muted reaction to the product announcements, which also included new Echo speakers and a flying home security camera.