Amazon (AMZN - Free Report) is leaving no stone unturned to bolster presence in the world of electronic gadgets on the back of its expanding tablet portfolio.
The latest roll out of the next generation Fire HD 8 tablet family is a testament to the same. The new family includes all-new Fire HD 8, Fire HD 8 Plus and Fire HD 8 Kids Edition.
The company strives to deliver enhanced entertainment experience for the entire family with the help of this advanced tablet line up.
Notably, the new devices feature longer battery life, expanded storage and robust content. The latest move is all in sync with Amazon’s strong focus toward gaining traction amid the coronavirus-induced crisis.
The stay-at-home protocol and economic shutdowns as a result of this pandemic has led to a rise in the demand for home entertainment and related devices.
We believe the e-commerce giant is well-poised to capitalize on this upbeat scenario on the back of its latest devices, which are already available for pre-order and will begin shipping on Jun 3. This, in turn, is expected to instill investor confidence in the stock.
Coming to price performance, Amazon has returned 30.5% on a year-to-date basis, outperforming the industry’s rally of 17.6%.
More About the Devices
Advanced features of the latest tablets are expected to bolster adoption rate of these devices in the near term.
The all-new Fire HD 8 tablet offers hands-free access with Alexa and comes with 2.0 GHz quad-core processor and 12-hours of mixed-use battery life. Further, the updated version comes with 32GB and 64GB internal storage options expandable up to 1TB externally.
Further, this device offers access to downloaded videos from Prime Video, Disney+, Netflix, SHOWTIME and Hulu. It also provides access to TV shows, songs, Kindle eBooks, movies, magazines and apps. Further, Amazon has introduced Game Mode on this device in order to offer uninterrupted gaming experience.
The all-new Fire HD 8 tablet also offers Zoom access in order to keep the user connected with family and friends.
Meanwhile, the new Fire HD 8 Plus features 3GB RAM, hassle-free wireless charging, 9W in-box adapter and six months of Kindle Unlimited.
The all-new Fire HD 8 Kids Edition comes with Amazon FreeTime Unlimited, which offers more than 20,000 age-appropriate books, Audible books, educational apps, games and videos. While kids will have access to above 1,500 educational titles related to math, science, exercise, art and virtual fieldtrips, parents will be able to monitor and control content with award-winning parental controls.
Expanding Tablet Portfolio
The latest move marks the expansion of its tablet portfolio. Further, the latest Kids Edition strengthens its tablet offerings for kids generation.
We believe this is likely to help Amazon in rapidly penetrating the global tablet market.
Apart from the latest launch, the company unveiled the advanced version of its Fire HD 10 tablet at the end of last year. Further, the company expanded kids portfolio by rolling out Fire HD 10 Kids Edition.
Strengthening tablet offerings of Amazon are expected to aid its competitive position against the likes of Apple (AAPL - Free Report) , Microsoft (MSFT - Free Report) , Alphabet’s (GOOGL - Free Report) Google, Lenovo and Samsung.
These companies are also making every effort to strengthen their position in the global tablet market.
However, entertainment-based features, customer benefits of Prime, robust content portfolio and updating skills of Alexa are key catalysts. All these endeavours are driving Amazon in the tablet market.
Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank(Strong Buy) stocks here.
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