Facebook to launch its Echo Show rival, Portal by the year end: Report

Facebook is planning to launch its home video chat device named Portal later this year. The news first reported by online news network Cheddar states that the new device will be in direct competition with Amazon's Echo Show.

According to the report, Portal features a screen which can be used to hold video calls and stream music and videos. Portal will also have facial recognition capabilities that would link its users to their Facebook accounts.

This is the first product to come out of Facebook's Building 8, its secretive internal division similar to Alphabet X. Facebook intends to let portal access outside streaming services such as Spotify and Netflix. The company recently signed sweeping music licensing deals with Sony/ATV and Universal Music Group. The report further added that the device can be controlled by voice commands.

The device is expected to be priced around $499, significantly more than the Amazon Echo Show which sells for $230. The device will be announced in early May, however, it could lower the planned price to spur the demand. Portal will be sold by Facebook through pop-up stores and online.