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Amazon Cuts Kindle Fire Prices for Cyber Monday

Stocks in this article: AMZN

NEW YORK (TheStreet) -- While the media obsesses over Amazon's (AMZN) move into drone delivery, which is a few years away, the online retailer works on conventional ways to get consumers to buy goods, and it's cutting prices on its Kindle Fire tablets in the effort.

Starting Sunday and continuing through Monday, Amazon customers will get $50 off the Kindle Fire HD 16GB and the Kindle Fire HDX 7-inch tablet. Both tablets will be priced at $119, and $179, respectively, while supplies last.

"The new Fire tablets are the best tablets we've ever built -- the reviews from press and the feedback from customers has been overwhelmingly positive," said Neil Lindsay, vice president of Amazon Kindle, in a press release. "We're excited to be able to offer $50 off Kindle Fire HDX 7 and the all-new Kindle Fire HD 16GB for Cyber Monday."

TheStreet recently reviewed Amazon's Kindle Fire HDX, noting it "is a vast improvement over last year's model."

In an interview with Charlie Rose of 60 Minutes Sunday night, Amazon CEO Jeff Bezos continued to reiterate that Amazon's devices, namely its Kindle Fire tablets, are sold at cost in an effort to get consumers to buy more goods from Amazon.

Below is an excerpt of an exchange between Rose and Bezos regarding the Amazon business model.

Charlie Rose: So you sell this at break even?

Jeff Bezos: We sell this at break even and then we hope to...

Charlie Rose: That's a very thin margin.

Jeff Bezos: It's a very thin margin. But we hope to make money when you...

Charlie Rose: Sell all the stuff...

Jeff books and movies...

Charlie Rose: That's always been your philosophy.

Jeff Bezos: Exactly.

Amazon shares were lower in Monday trading, off 0.67% to $390.98.

--Written by Chris Ciaccia in New York

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