Amazon working on its own digital video recorder for live TV

Device will include physical storage and connect to Amazon’s existing Fire TV boxes
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Amazon is working on its own digital video recorder, according to a report from Bloomberg.

The device, which Bloomberg says has been dubbed 'Frank' at Amazon, will include physical storage and connect to the company's Fire TV boxes.

'Frank' will use the same wireless technology as Amazon’s Echo speakers use to connect to Fire TV boxes. Users will be able to record live TV and stream the video to a smartphone so it can be watched later.

Bloomberg says Amazon is also planning to update its Fire TV stick with the new software.

Following the initial report from Bloomberg, TiVo has seen a drop in its share price as investors consider 'Frank' as a direct competitor.

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