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Amazon Reportedly Readying New Smartphone to Launch Later this Year

Stocks in this article: AMZN

NEW YORK (TheStreet) -- Amazon  (AMZN) is said to be preparing to launch a smartphone that may ship just in time for the critical holiday shopping season.

VIDEO TRANSCRIPT:

Fresh off of its move into the living room, Amazon now wants to live in your pocket too.

The ecommerce giant is reportedly preparing to launch a smartphone according to a report from The Wall Street Journal over the weekend. Speaking with sources familiar with the project, the news site said an announcement could come as early as June with device shipments around September, just in time for the critical holiday shopping season.

A report from tech site Re/Code supports the claims, noting that Amazon will likely release both a high-end model and cheaper unit for emerging markets.

WATCH: More videos from Brittany Umar on TheStreet TV

Though the company has yet to confirm reports, if true, Amazon's moves into the hardware space put it in direct competition with entrenched players such as Apple and Samsung. Combined, those heavyweights currently hold 49% market share of the global smartphone network. 

From New York, this is Brittany Umar for TheStreet.

-- Written by Brittany Umar in New York.

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