Amazon (AMZN) Looks to Bolster Mobile Offerings with Possible Smartphone
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Reports out late Thursday have Amazon.com (Nasdaq: AMZN) aiming to compete with Apple, Inc. (Nasdaq: AAPL), Google (Nasdaq: GOOG), Microsoft (Nasdaq: MSFT), etc., for domination in the mobile smartphone market.
The move follows the success of its Kindle e-reader series and Kindle Fire media tablet.
Amazon is working with Foxconn on its new device, though neither company issued comments to Bloomberg.
Recently, Amazon hired Matt Gordon from Intellectual Ventures Management, where he had the role of senior director of acquisitions. Gordon will aid Amazon in bolstering its patent portfolio for a further venture into smartphones. Amazon was looking to acquire patents from InterDigital (Nasdaq: IDCC) not too long ago, but Intel (Nasdaq: INTC) ended up acquiring the patents in a $375 million deal.
The market is one to move into for Amazon. Research firm IDC said 398.4 million smartphones were shipped globally in the first quarter. With more and more consumers feeling more comfortable with conducting financial transactions and consuming media on mobile devices, the move is a smart one as Amazon aims to sell more high-margin movies, music, and digital books.
Shares are indicated lower ahead of the bell Friday.
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The move follows the success of its Kindle e-reader series and Kindle Fire media tablet.
Amazon is working with Foxconn on its new device, though neither company issued comments to Bloomberg.
Recently, Amazon hired Matt Gordon from Intellectual Ventures Management, where he had the role of senior director of acquisitions. Gordon will aid Amazon in bolstering its patent portfolio for a further venture into smartphones. Amazon was looking to acquire patents from InterDigital (Nasdaq: IDCC) not too long ago, but Intel (Nasdaq: INTC) ended up acquiring the patents in a $375 million deal.
The market is one to move into for Amazon. Research firm IDC said 398.4 million smartphones were shipped globally in the first quarter. With more and more consumers feeling more comfortable with conducting financial transactions and consuming media on mobile devices, the move is a smart one as Amazon aims to sell more high-margin movies, music, and digital books.
Shares are indicated lower ahead of the bell Friday.
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