Google Inc.’s share price down, releases three new devices to compete with Apple, unveils Android Lollipop in November

Google Inc. officially revealed three new Android-based devices under its Nexus brand, including a smartphone, a tablet and a set-top box for TVs. The new products announcement comes at a time, when the company is facing the fierce rivalry of Apple Inc. for high-end customers. The largest search engine in the world, also said it is to launch a new version of its Android operating system – Android Lollipop in November 2014.

Sundar Pichai, the head of Google’s Android, Chrome and Apps businesses, said in a statement, cited by the Wall Street Journal: “We deeply respect what Apple is doing, but we take a very different approach. With Android L, we wanted to show the entire spectrum.”

The prices of the new devices presented by Google is slightly lower, or in line with the prices of Apples competing devices, unlike its strategy in the past, when the company preferred to price its products significantly below its competitors ones.

The new smartphone presented by Google is called Nexus 6. The device has a 6-inch display and is manufactured by Motorola Mobility. Google said that it would be available for pre-order on October 29th, while it will be sold in November in the mobile phone carriers stores. The smartphone device will be sold in the U.S. by U.S. Cellular, AT&T, T-Mobile and Sprint. The price of the 32GB version of Nexus 6 amounts to $649 unlocked, while the 64GB version will cost $699.

Google also unveiled its Nexus 9 tablet, which features an 8.9-inch display made by HTC. The tablet, which is to become available for pre-order on October 17th, and will be officially launched in stores on November 3rd, will cost $399 in its 16GB version and $479 in its 32GB version. The tablets 32GB version with LTE will come at the price of $599.

The third new device is Googles streaming media player, which is called Nexus Player. The set-top box is made by Asus and is the first device that runs Android TV. It is to become available for pre-orders and will be released in the stores at the same time as Nexus 9. The device will cost $99 when with a remote control, and $40 with an optional controller.

Google also announced it is to present its new Android Lollipop operating system. Sundar Pichai said in a blog post, cited by the Telegraph: “Lollipop is made for a world where moving throughout the day means interacting with a bunch of different screens – from phones and tablets to TVs. With Lollipop, it’s easier than ever to pick up where you left off, so the songs, photos, apps, and even recent searches from one of your Android devices can be immediately enjoyed across all the other ones.”

Google Inc. was 1.45% down to close at $540.73 per share yesterday, marking a one-year increase of 22.49%. The company is valued at $367.49 billion. According to CNN Money, the 42 analysts offering 12-month price forecasts for Google Inc. have a median target of $670.00, with a high estimate of $750.00 and a low estimate of $600.00. The median estimate represents a +26.41% increase from the last price of $530.03.