Facebook is now looking to become a big part of everybody's homes by launching "Portal," the social media giant's first foray into the hardware industry.

To be officially announced during Facebook's F8 developer conference in May this year, the device is considered by many to be CEO Mark Zuckerberg's answer to Amazon's Echo, but according to financial news website Cheddar, the device is intended to be more than just a virtual assistant but rather serve as a link that would keep families and friends connected with each other through video chatting.

Like Echo, the device is designed to be responsive to voice commands but with additional features such as facial recognition using an integrated wide-angle lens. This will allow Portal to recognize individuals by associating their faces with their respective Facebook accounts. Facial recognition is a feature that the network has been known to use for some time now.

The device will come with a 13-15inch screen, a camera and multi-directional microphones and speakers allowing it to accommodate several users in a single area, such as the living room. It will also allow users to access their Facebook accounts and other social media sites such as Twitter. Third-party streaming is also available, allowing the use of Netflix and Spotify to play favorite movies and songs.

Andrew Bosworth, Facebook's vice-president for consumer hardware and in-charge for Augmented and Virtual Reality, neither confirmed or denied early speculations regarding their latest project, but posted a tweet saying that 2018 will be an exciting year for AR/VR.

The Portal device is rumored to be released in the second half and will start off at $499 per unit, which is significantly higher than its rivals Echo, Google Home, and Apple HomePod, but could still be lowered in order to have a better chance in the market.