Amazon.com, Inc. (NASDAQ:AMZN) Is All Set To Reveal New Updates At Event

Now that the Nokia Corporation (ADR)(NYSE:NOK) event is over, we can wait for Amazon.com, Inc.(NASDAQ:AMZN). On Thursday the Internet retailing giant will be unveiling its new updated Kindle Fire tablet.

Barely 10 months after the launch of its first tablet PC, the company said that its debut Kindle Fire had been sold out, leading the market to renewed anticipation that it would soon be launching its next version.

The new Kindle Fire is expected to be much larger than the 7.5 inch version it had previously launched.

The launch event is scheduled to be held in Santa Monica, California. Along with the tablet it is also expected to announce its newest e-readers.

Amazon's Kindle Fire notched up impressive sales on debut with a 17 percent market share in the December period, according to research firm IDC.

How Should Investors Trade AMZN Ahead of The Expected Launch? Find Out Here

However subsequently they slipped to four percent, in the first quarter of its fiscal year. Apple's iPads and Google's Nexus 7 ate into the sales of the Kindle Fire.

The tablet market has become very competitive and what differentiates one from the other, apart from the features and applications, is what content can be downloaded on them.

Amazon recently signed a licensing deal with video content provider Epix to provide blockbuster movies on demand that can be downloaded on its e-readers and on its tablets.

While the tablet segment offers enormous opportunities, with plenty of room for varied players  it is also easy to go wrong and lose customers' interest.

An analyst at BMO Capital Markets told Bloomberg, "“People who own the Kindle Fire are probably watching content that was repurposed for it. Apple has done a phenomenal job at this. There’s room for another player in the market, and Amazon has a good chance, but we’re definitely dealing with version one right now.”

Shares in Amazon fell 0.67 percent to $246.22 on Wednesday.