Shares of Google Inc(NASDAQ:GOOG) moved up to session high of $632, up 3.04% on high volume, off session low of $617.50.
The news is out that the much-anticipated Google Inc (NASDAQ:GOOG) Fiber TV service will cost around 120 dollars a month for a package of the well-known broadcast networks. The Internet speed will be 1 GB per second with the storage amounting to 1 TB of cloud storage. The same service can be availed at 70 dollars a month, but it will exclude the traditional TV channels. The first ever Google TV was launched in Kansas City and based on early reports it will provide serious competition to well-established networks and telecommunication companies in the US.
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The features being offered are simply cutting-edge with the ability to store up to 500 hours of programming (High Definition) and also record 8 TV shows back-to-back at a time. A tablet or smartphone can function as a voice activated remote control for the user. As an introductory offer, early birds will get Google’s Nexus 7 tablet with the Google TV app.
Google Chief Financial Officer Patrick Pichette, says that they are yet to explore the vast phenomenon called the Internet. Pichette played a crucial role in the supervising of the Fiber project. Internet speeds have gone up ever since broadband was introduced, but he states that Google need not wait any longer from making Internet speed 100 times faster.
Using Google Fiber TV, users can browse Youtube, Netflix, and watch live channels, recorded shows, and tens of thousands of hours of on-demand programming. Google executives have demonstrated the 1GB speed at a presentation.
This service can be utilized by Kansas City residents as well because Google had invested moolah for manufacturing fiber in Kansas City, Missouri in 2011. This was done after cities were invited back in 2010 to locate communities that may be interested in being part of the project. There has been no looking back ever since.