That something is rumored to be 3-D technology that lets users interact with the phone via gestures, according to many analysts.
However, more than likely this won't be enough to attract a significant number of consumers, said Kevin Paul Scott, co-founder of the ADDO Institute, a branding consultant firm.
"It's not a smart move for Amazon, nor do I think it will be successful," Scott said. "I think what they run the risk of doing is introducing features which consumers find attractive, but other companies, like Apple, will simply integrate those features in their phone in an already established market," Scott said.
There's also speculation that Amazon may be deeply discounting its phone, much like it did with its tablets, to help hook consumers. In other words, the company would take a loss in order to get its phone into the hands of consumers who would use the device to make purchases from Amazon.
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But even a heavily subsidized phone could fail to move the needle much because people will still face the hassle of unbundling their current wireless service. (A report Tuesday said AT&T will be the exclusive carrier for the new phone.)
"The question is, in an industry where people are locked into contracts, can they get consumers to give them a long enough look to actually make a difference?" Scott said.