NEW YORK ( TheStreet) - Amazon ( AMZN) unveiled its highly anticipated tablet this morning at a press conference in New York City. The new device is expected to rival Apple's ( AAPL) iPad and be more competitive on price. The 7-inch tablet, dubbed the "Kindle Fire," will retail for $199, nearly half the price of the intro price of the iPad at $499. The device will allow users to read e-books, download music and video games and stream movies and television shows. >To contact the writer of this article, click here: Jeanine Poggi. >To follow the writer on Twitter, go to http://twitter.com/jpoggi. >To submit a news tip, send an email to: email@example.com.