In a press release, Amazon announced its existing Kindle Fire tablet is sold out. "We're grateful to the millions of customers who have made Kindle Fire the most successful product launch in the history of Amazon," said CEO Jeff Bezos in the press release. He noted, however, that "we have an exciting roadmap ahead--we will continue to offer our customers the best hardware, the best prices, the best customer service, the best cross-platform interoperability, and the best content ecosystem."
Roadmap ahead. That's a pretty telling phrase, especially right before the major press event that Amazon is holding next week in Santa Monica, Calif. All signs point to a refresh of the Kindle Fire, which Amazon noted has clinched 22% of the U.S. tablet market since it went on sale nine months ago.
The original Kindle Fire was released to much fanfare, costing just $199, compared to the Apple (AAPL) iPad, which was priced from $499 at the time. Amazon is trying to maintain its U.S. market share as Google (GOOG) and other companies enter into the lower-end tablet market.If Amazon wishes to maintain or grow that 22% market share in the U.S., it will have to improve and innovate on the original Kindle Fire, and get consumers excited about it. What better way to get people excited for the sequel than to say the original is sold out. Amazon could not be reached for comment for this story. Interested in more on Amazon? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV