Amazon bleeding billions of dollars from money-losing Alexa speakers: report

Amazon’s Echo smart speakers – home to the virtual personal assistant Alexa – have sparked billions of dollars in losses for the company despite strong sales and household name recognition around the world, according to a report. CEO Andy Jassy – who took the helm of the Settle-based e-tailing giant in 2021 after billionaire founder Jeff Bezos stepped down – has set his sights on cutting costs, and the smart device business is reportedly on the chopping block. Amazon has sold more than 500 million Alexa dev ...