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It competes directly with the new Apple TV, also announced this month, which also supports 4K and HDR for the first time.
The key differentiator here is price: The new Amazon Fire TV with 4K costs $69, while the new Apple TV 4K costs $179 for 32GB of storage, and $199 for 64GB of storage.
That said, there are some notable technical differences between these streaming devices that will help you decide which one is best for you - we'll even help you keep score. Take a look: