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    Amazon trading Heats with unveiling of Kindle Fire Tablet

    Amazon trading Heats with unveiling of Kindle Fire Tablet

    Amazon.com Inc. (NASDAQ: AMZN) today unveiled its long-rumored tablet device, Kindle Fire. The new device will be available at a starting price of $199, which is well below the starting price of iPad, the best selling tablet device.

    Amazon unveiled the new device at a media event attended by around 300 journalists in New York City. Amazon CEO Jeff Bezos said that the company is building premium products at non-premium prices.

    Kindle Fire includes an LCD-backlit touchscreen. The device will enable users to not only read books but also watch movies and TV shows, surf the Internet and play games. At a starting price of $199, the device is considerably cheaper than the iPad and is well below expectations of a pricing range of $250-$300.

    Dave Limp, vice president of Amazon Kindle, said that the company expects to sell Kindle Fire at stores that currently carry the Kindle e-readers. Limp also said that going international is important.

    Kindle Fire’s price makes it very attractive and the device could give Apple‘s  iPad, which until now has dominated the tablet PC market, a tough competition.

    Following the launch of the new device, Amazon shares are soaring in today’s trading. At last check, the stock was trading 3.97% higher at $233.12, with volume up from daily average of 6.13 million to 9.73 million.

     

     

     

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