UPDATE: Amazon (AMZN) CEO Bezos Expects N-T Stock Volatility; May Still Push Further into Smartphones

(Updated - December 2, 2014 2:44 PM EST)

Amazon.com (NASDAQ: AMZN) shares are in focus following commentary from CEO Jeff Bezos Tuesday afternoon.

Speaking at BI Ignition in New York, Bezos said shares of Amazon will remain volatile due to new business segments its entering. The company is focused on long-term investors, not traders, the CEO noted.

Bezos also said that books were too expensive.

UPDATE -

On the company's Fird phone, which, with a $170 million writedown taken in Amazon's most recent quarter as a direct result, could be considered a flop by many standards, Bezos said that he's not sure if the Fire phone would be competitive in the current marketplace. It’s going to take many iterations. Who knows? Ask me in a couple of years, the CEO said.

While some of the features of the device were forward thinking, include a 3D display and gesture controls, the device didn't take with customers. Some were put-off by the aspect of being tied to an Amazon phone (how much advertising and/or products are they going to push me to buy), while others might not have liked the idea of it being a device exclusive to AT&T (NYSE: T) (I'm on Sprint, is it really worth the cost/effort to switch carriers?).

Though the Fire Phone wasn't as big a hit as other products from Amazon, Bezos' comments hint that the e-commerce giant isn't giving up on the segment quite yet.

Shares of Amazon are down 0.4 percent.

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