The device will sell for $50 and supports sources such as Netflix, Hulu Plus, Amazon Instant Video, Pandora, EPIX, Crackle, Disney, and HBO GO.
Don't expect more than just the basic experience for $50, as the LT is capped at 720p.
Scheduled for a November launch, the LT will extend the Roku 2 series on the bottom-end. The Roku 2 HD currently sells for $60, the XD for $80 and the XS for $100. The XD is the cheapest way to get 1080p resolution and the flagship model XS includes a game remote to play games such as Angry Birds, Roku said. All series 2 players integrate Bluetooth and a microSD card slot.
While Roku faces stiff competition and it will be tougher for the company to make the case for its streaming player as application TVs will become much more available, the company said that it is following a strategy to place a Roku into "every home". For this year, the company hopes that it will become the gadget to have this Christmas.