/ Source: Reuters
Starbucks Corp said on Thursday it will bring out its own single-cup coffee and espresso drink machine later this year, pitting Green Mountain Coffee Roasters Inc's Keurig machines into direct competition with the leading coffee chain.
Shares of Green Mountain plunged 18 percent in after hours trading to $50.88.
Starbucks said that the "Verismo system by Starbucks" will make both brewed coffee and espresso beverages such as lattes. The system will be sold online, at select Starbucks shops and at specialty retailers in the United States, Canada and some other international markets, it said.
Pricing will not be announced until closer to the launch, Starbucks said.
