Bloomberg News

Amazon Plans Sept.6 Announcement as New Kindles Awaited

August 23, 2012

Amazon.com Inc. (AMZN:US), the world’s biggest online retailer, will hold a press conference on Sept. 6 in Santa Monica, California.

The Seattle-based company may be preparing to announce upgrades to its Kindle e-reader devices or the Kindle Fire, a tablet that shows movies and other content, said Kerry Rice, an analyst at Needham & Co. Inc.

“I’d assume it’s some more Kindle Fire models,” including at least one with a 10-inch screen, said Rice, who has a hold rating on Amazon. “They’ll be priced very competitively, at lower price points than most, if not all their competitors.”

Amazon sent out invitations today to the event, which will be held at the Barker Hangar. The online retailer gave no details on what the meeting would be about. On Sept. 28 of last year, Chief Executive Office Jeff Bezos unveiled the Kindle Fire and other new devices.

Following six quarters (AMZN:US) of declining profit, Amazon investors are looking for the company to refresh its product line heading into the year-end holiday shopping season. The company sold fewer Kindle Fires in the second quarter than in the previous three months as customers held off on buying in anticipation of a newer version, Mark Harding, an analyst at JMP Securities LLC, said last month.

To contact the reporters on this story: Nick Turner in New York at nturner7@bloomberg.net; Olga Kharif in Portland at okharif@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net


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Companies Mentioned

  • AMZN
    (Amazon.com Inc)
    • $335.04 USD
    • -0.60
    • -0.18%
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