The item is likely an HDMI switch, which takes multiple inputs and directs one of those signals to a single output.
It has three input ports (IN1, IN2, IN3) and one output port (OUT).
A "Select" button allows switching between the different input sources.
The device manages multiple HDMI sources for a single display.
It appears to support LPCM audio and potentially Dolby signals.
This type of device is useful for connecting multiple devices like game consoles, Blu-ray players, or PCs to a single TV or monitor input.