How Will Amazon Break Into The Smartphone Market?

Ever since last summer, there have been rumors circulating that Amazon.com. Inc. (NASDAQ:AMZN) has been working on developing smartphones with 3D screens. A report by Market Watch in July boasts statements from people familiar with the situation explaining that Amazon is working with Asian component suppliers.

NEW! Discover a new stock idea each week for less than the cost of 1 trade. CLICK HERE for your Weekly Stock Cheat Sheets NOW!

That report still seems to hold true for today. Though Amazon has never confirmed its rumored construction of a smartphone, Market Watch released another report Thursday announcing similar news and citing unnamed sources. It would not come as a surprise if the Internet retail giant decided to branch into a new, already crowded market, as it did the same thing last year with the tablet market and a Kindle to rival Apple’s (NASDAQ:AAPL) iPad.

If the rumors are true, Amazon is not only working on two different smartphones, but also a device that streams audio content. The only question left then is: what will Amazon do next?

Investing Insights: Is Adobe a Buy?

More Articles About:   , , , , ,  

More from The Cheat Sheet