This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Amazon Launches Kindle Fire HDX to Take on iPads (Update 1)

Stocks in this article: AMZN AAPL GOOG

Updated from 8:19 a.m. EDT to provide analyst comments in the 10th paragraph.

NEW YORK (TheStreet) -- Amazon (AMZN) CEO Jeff Bezos has always been considered an innovator. His latest innovation is announcing new products at the stroke of midnight.

At 12 a.m. EDT Wednesday, Amazon updated its Kindle Fire tablet line, launching 7-inch and 8.9-inch versions of the Kindle Fire HDX to help take on Apple's (AAPL) iPad, which still has the top spot in the tablet market, with 32.4%, according to tech research firm IDC.

Amazon doesn't break out how many units it sells, but IDC estimated in the first quarter of 2013 that it had 3.7% of the tablet market. By the second quarter, Amazon had dropped out of IDC's top five tablet makers, with Apple, Samsung, ASUS, Lenovo, and Acer taking the top spots.

The 7-inch tablet starts at $229, while the larger 8.9-inch version starts at $379.

"These are powerhouse tablets," Bezos wrote in a letter posted on Amazon's Web site. "We added the latest graphics engine, doubled the memory, and tripled the processing power with the most advanced 2.2 GHz quad-core processor. Our HDX displays bring together exceptional pixel density (up to 339 ppi), perfect 100% sRGB color accuracy, improved brightness, and dynamic image contrast. You also get up to 11 hours of battery life--17 hours when you're reading."

Bezos also noted that the new tablets, including the 8.9-inch version, are "startlingly light." It weighs 13.2 ounces, 34% lighter than the Kindle Fire HD, which Amazon unveiled in Santa Monica last year.

There's also hundreds of updates for the new tablets, including email, calendar, productivity apps and X-Ray for Music and Second Screen. The most buzzed-about new feature (for perhaps the wrong reasons) is the 'Mayday' button, which makes an Amazon expert appear on screen for free, at any time, to show you how to operate the tablet. That seems like a curious feature to me, perhaps indicating previous Kindle Fire tablet owners thought the devices were too complicated. <story_page_break>

The new Kindle Fire HDX tablets run Fire OS 3.0, codenamed "Mojito," which is built off Google's (GOOG) Android 4.2, codenamed Jelly Bean.


Unfortunately, despite the device using an OS built of Android, users still can't get access to Google Play, with its hundreds of thousands of apps and media pieces. Instead, users are still forced to download apps and content from Amazon's appstore (not to be confused with Apple's App Store).

Topeka Capital Markets analyst Victor Anthony reiterated his "buy" rating on Amazon, following the announcement. "We reiterate our Buy rating as we believe the specs and features offer a compelling economical alternative to iPads," Anthony wrote in a report. "Amazon is well on its way to effectively replicate Apple's business model."

In addition to announcing the new Kindle Fire HDX tablets, which are available for pre-order starting Wednesday, and new Origami covers (ummm okay), Amazon cut the price on its previous Kindle Fire HD, which is now selling for $139.

Shares of Amazon were rising 0.7% Wednesday to $316.19.

--Written by Chris Ciaccia in New York

>Contact by Email.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs