Amazon Introduces New Kindle Family of Products

Amazon CEO Jeff Bezos announced on Tuesday at a press conference in New York City a new line of e-readers under the kindle line. The Kindle Touch, much like the older Kindle, is the new definitive e-reader. The keyboard that the old Kindle has is completely gone and replaced with a touch screen. The device will still have the e-Ink technology like the older model.

The e-reader will be sold in three different versions. The Kindle Touch 3G will be the priciest version at $149. The device will support free 3G connectivity anywhere globally, with no monthly fees or contracts. The regular Kindle Touch will start at $99 with the advanced touch screen, Wi-Fi connectivity, and text-to-speech. Both versions are 7.5 ounces and 11% smaller than the older version.

The last model will be sold under the name Kindle. It will start at $79 and will again be smaller than the older version. It will not have the touch capabilities but will be lighter at just 6 ounces and smaller but with the same 6-inch screen size.

The new Kindle is available now on Amazon.com. The Kindle Touch and Kindle Touch 3G will be released November 21.

Amazon is currently trading up close to 5% in mid-day trade.

Amazon.com (NASDAQ:AMZN) has a potential upside of 6% based on a current price of $233.38 and an average consensus analyst price target of $247.46.

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