Hasbro, Inc. (NASDAQ:HAS) , the worldwide leader in children's and family leisure time and entertainment products and services, is set to introduce a new toy this fall as part of its Furby brand. Furby Connect is an interactive toy that uses Bluetooth technology to interact with kids.
The toy has LCD screen eyes. Moreover, it instinctively reacts to sound and touch owing to the presence of multiple sensors in its body. One of the main attractions of this toy is that it can speak more than 1000 phrases as well as display more than 100 animated video clips to reflect its mood and expressions. It is thus set to be a fun companion for kids that will keep them engaged.
Notably, Hasbro has partnered with some of the big names in the entertainment space including KIDZ BOP and Jukin Media to curate music and videos for the Furby Connect creatures to deliver children-friendly content.
Each creature also comes with a sleep mask accessory that needs to be put on the Furby Connect creature when it’s time for rest after long hours of play.
The digital gaming market has strong growth prospects. Consequently, the company is ramping up its digital gaming efforts. In 2013, the company added new resources to Hasbro with the acquisition of Backflip Studios, a mobile game developer. Backflip intends to focus on its existing product lines as well as launch new games, including those based on Hasbro brands.
The company also entered into agreements with Electronic Arts Inc. (NASDAQ:EA) , Activision, DeNA and GameLoft. These agreements provide Hasbro an opportunity to establish its presence in the digital gaming/casual entertainment category. The company now has tremendous expertise in producing animation at a minimal cost.
Hasbro currently has a Zacks Rank #2 (Buy).
Other Stocks to Consider
Another well-ranked stock in the industry is Mattel, Inc. (NASDAQ:MAT) , carrying a Zacks Rank #2. In the broader consumer discretionary sector, one can consider Intrawest Resorts Holdings, Inc. (NYSE:SNOW) , carrying a Zacks Rank #1 (Strong Buy).
INTRAWEST RESRT (SNOW): Free Stock Analysis Report
HASBRO INC (HAS): Free Stock Analysis Report
MATTEL INC (MAT): Free Stock Analysis Report
ELECTR ARTS INC (EA): Free Stock Analysis Report
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