Amazon (AMZN - Free Report) is leaving no stone unturned to bolster presence in the world of electronic gadgets on the back of its expanding and innovative product portfolio.
Recently, the company unveiled the latest version of its Fire HD 8 tablet which offers hands-free access with Alexa. This will be enable the users to use their voice command for playing movies or songs, making calls, monitoring house via smart camera and many other tasks.
In addition to Alexa features, the new tablet also features Show Mode which provides full screen visualization of the tasks ordered via Alexa like movies, weather and news updates.
Further, the updated version also retains most of the features that the last year’s version carried including 16 GB of internal storage expandable up to 400 GB and 10 hours of battery life.
With all these features, the company will be able to cater better to its customers, which is likely to drive tablet sales figure, consequently aiding revenue generation.
Coming to the price performance, shares of Amazon have returned 65.8% on a year-to-date basis, outperforming the industry’s rally of 27.8%.
Expanding Tablet Portfolio
Amazon’s continuous focus on innovation of its product portfolio bodes well for its improving market share across all the segments. Moreover, its expanding tablet portfolio will aid it to rapidly penetrate the global tablet market.
Per the data from Research and Markets, the global tablet shipment is expected to hit 187 million by 2024.
Along with the new version of Fire HD 8 tablet, the company has also rolled out Fire HD 8 Kids Edition, an advanced tablet built specifically for children. The tablet comes with storage capacity of 32 GB and one-year subscription of Amazon FreeTime Unlimited. With this move, the company has expanded its tablet range for kids.
Furthermore, Amazon unveiled Fire HD 10 Kids Edition during the last reported quarter. Moreover, the company recently rolled out “Show Mode”, a new feature on Fire HD 10 tablets. This allows the users to use voice commands via Alexa to check important news, camera feeds, updates on weather, make video call, play movies and Audible books.
The recent move is in sync with the company’s strong efforts to strengthen its competitive position from the likes of Apple (AAPL - Free Report) , Microsoft (MSFT - Free Report) , Alphabet’s (GOOGL - Free Report) Google, Lenovo, Samsung and Huwaei.
All these companies are making robust efforts to strengthen their position in the global tablet market where Apple holds a dominant position.
However, Amazon gains a competitive edge against the Apple as well as Google whose tablets are synchronized with Apple’s Siri and Google Assistant, respectively.
Nevertheless, the company has received wonderful response from the users of Fire HD 10 which features hands-free access to Alexa. Consequently, the latest move of the company will enhance its tablet portfolio.
We believe Amazon is well poised to gain momentum in the growing tablet market with the help of its expanding tablet portfolio, robust Alexa skills and growing focus on kids.
Currently, Amazon carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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