Amazon.com (AMZN) Taps HTC to Build Expected Smartphone (GOOG) (AAPL)
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Amazon.com (Nasdaq: AMZN) is rumored to have been working on a smartphone for some time now, though nothing has been acknowledged by the Seattle, Washington-based e-commerce giant.
The FinancialTimes (FT) speculates that Amazon.com is teaming up with HTC on its upcoming device. There are three devices in development and only one is in advanced stages. Sources told the FT that there is no firm date on launch and the company might not press ahead with a smartphone.
Amazon was recently quoted as saying that the company had no plans to release a phone this year, but market watchers took that as also meaning that the entire possibility of an Amazon smartphone wasn't ruled out.
It's likely that Amazon will use Google (Nasdaq: GOOG) Android for its device and has actually taken a similar route as Google: partnering with experienced device markets instead of trying to go it alone.
HTC has tried to team-up with a notable brand before with the release of the first Facebook (Nasdaq: FB) Phone. Due to poor initial sales and no hints that interest was picking up, the device was quickly pulled.
The company could use a boost; after largely dominating the smartphone scene in 2011, stronger competition from Android competitors and Apple (Nasdaq: AAPL) releasing a series of quality devices eroded much of HTC's market share in 2012 and into 2013.
Shares of Amazon are down about 1 percent Tuesday.
The FinancialTimes (FT) speculates that Amazon.com is teaming up with HTC on its upcoming device. There are three devices in development and only one is in advanced stages. Sources told the FT that there is no firm date on launch and the company might not press ahead with a smartphone.
Amazon was recently quoted as saying that the company had no plans to release a phone this year, but market watchers took that as also meaning that the entire possibility of an Amazon smartphone wasn't ruled out.
It's likely that Amazon will use Google (Nasdaq: GOOG) Android for its device and has actually taken a similar route as Google: partnering with experienced device markets instead of trying to go it alone.
HTC has tried to team-up with a notable brand before with the release of the first Facebook (Nasdaq: FB) Phone. Due to poor initial sales and no hints that interest was picking up, the device was quickly pulled.
The company could use a boost; after largely dominating the smartphone scene in 2011, stronger competition from Android competitors and Apple (Nasdaq: AAPL) releasing a series of quality devices eroded much of HTC's market share in 2012 and into 2013.
Shares of Amazon are down about 1 percent Tuesday.
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