Killing off helpless bookstores and big box retailers hasn't been enough.
On Wednesday Amazon asked journalists, developers and Amazon customers to request invitations for a news event scheduled for June 18. If reports are to be believed, Amazon will either announce its plans to enter the smartphone space or unveil an actual device.In Wednesday's tweet announcing the event, the company included an image of a black object with an Amazon logo that could be a phone. Jan Dawson, a technology-industry analyst who runs research and advisory firm Jackdaw, described this as Amazon's entry in the most ubiquitous device category there is. The smartphone is a growth area, but just like the living room, it's a crowded, competitive one. It is dominated by Samsung, which has a 31% market share, followed by Apple, which controls 15% of the market. There's also Microsoft's (MSFT) Windows phone, which is showing modest signs of life. And the market is bookended by BlackBerry (BBRY), which refuses to go away. What does Bezos hope to accomplish with an entrance into this space? I don't doubt for a moment that Bezos understands the end-game for Amazon. But as evident by the stock's 23% year-to-date decline, the company's persistent "growth at all cost" mentality is quickly becoming an annoyance to investors.
WATCH: More tech videos on TheStreet TV | More videos from Debra Borchardt
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