Is Amazon.com Readying a Kindle Smartphone?

Thursday, 17 Nov 2011 | 7:22 PM ET

Just days after rolling out the Kindle Fire tablet device, Amazon.com may be prepping a low-cost smartphone for release next year, according to chatter on Wall Street.

To Piper Jaffray analyst Gene Munster, though, the chances of Amazon releasing a smartphone are “slim to none.” Given wireless carrier relationships, the process of launching a smartphone is completely different from launching a tablet.

No Fire for Amazon's Stock
Gene Munster, Piper Jaffray analyst, discusses the lackluster performance in Amazon stock and whether its smartphone will be able to compete with Apple. Also, the Fast Money traders weigh in on Hewlett-Packard's new board member, Ralph Whitworth.

If Amazon is able to release a phone, many wonder whether it could give Apple’s iPhone a run for its money. After all, Amazon’s Kindle Fire tablet has only been on the market for just over a week, but it’s already received more than 1,100 reviews. It took Apple more than two years to get that many reviews for its iPad device, Munster said. Then again, most of the reviews for the Kindle Fire have been lukewarm, he added.

Looking ahead, Munster said top-line growth will be the driver for Amazon’s stock. The Street is looking for 40 percent top-line growth this holiday season and Munster thinks the company is well on its way.

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