Join        Login             Stock Quote

Amazon.Com (AMZN) Unveils New Kindle Reader; Shares Hit New High

 September 06, 2012 03:24 PM

(By Balaseshan) Amazon.com Inc. (NASDAQ:AMZN) unveiled a new e-reader called the Kindle Paperwhite with a back-lit screen, sharper screen and longer battery life at an event in Santa Monica, California. Following the news, shares of AMZN touched a new all-time high.

The Kindle Paperwhite with its built-in light is likely to give a stiff competition Barnes & Noble Inc.'s (NYSE:BKS) Nook Simple Touch with GlowLight, which was released last year.

The Kindle Paperwhite, which will be shipped October 1, will cost $119 for Wi-Fi version and $179 for the 3G version. In comparison, the Nook device with similar screen technology currently costs $139.

[Related -How To Earn 30% A Year From Microsoft -- Without Buying A Single Share]

Amazon Chief Executive Jeff Bezos said the new touchscreen device would have an eight-week battery life even with the light on, a new "Time to Read" feature, and seven different font options including Helvetica, Times New Roman, and Palantino, according to media reports.

The Kindle Paperwhite is a black-and-white eReader that adds a front-lit display for easier reading in the dark. Amazon says the screen is better than on its previous devices, with the option to change fonts, as reported by Engadget.

Media reports also cited Bezos saying that the basic Kindle unveiled last year will remain available, with Amazon cutting the price from $79 to $69.

[Related -Apple Inc. (AAPL): How Q1 Earnings Will Fare?]

There has been speculation that Amazon will showcase later on Thursday a new version of its Kindle Fire tablet, which targets the market dominated by Apple Inc.'s (NASDAQ:AAPL) iPad. Another rumors states that Amazon will come out with two Kindle Fire tablets -- 10-inch to existing range and a new 7-inch tablet.

Google Inc.'s (NASDAQ:GOOG) $199 Nexus 7 tablet and Microsoft Corp.'s (NASDAQ:MSFT) Surface tablet are likely to give immense pressure on Kindle Fire tablet.

AMZN is trading up 1.98% at $251.09 on Thursday. The stock has been trading between $166.97 and $252.27 for the past 52 weeks.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageGermany Is On The Rebound - Time To Buy?

Based on this year's 17% spike in the Stoxx Europe 600 Index, it seems investors have found a home in read on...

article imageIs Drought Risk In The American West An Economic Threat?

The historic and ongoing drought in California is getting harder to ignore in terms of its potential impact read on...

article imageFunds Behaving Badly

Discipline is still the key to read on...

article imageGenuine Parts Co. (GPC): This Company's Raised Dividends For 59 Years

There are 253 million cars and trucks driving along U.S. roads. And the average age of those automobiles is read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.