Amazon is launching an updated line of Kindle e-readers, including the first version that will offer a color screen and an update to its Kindle Scribe that includes an "AI-powered notebook." Amazon stock was slightly lower in early trading Wednesday.
The new Kindle Colorsoft is selling for $280 from Amazon and will begin shopping on Oct. 30, the company announced. Meanwhile, Amazon's $399 new Kindle Scribe will include what the company called a crisper screen and AI capabilities for its notebook feature.
The AI notebook will convert scribbled notes into text and allow users to "quickly summarize pages and pages of notes into concise bullets." Amazon launched Scribe in 2022 as its first Kindle that included a stylus for handwritten annotation.
Amazon's Kindle Revamp
Kindle was Amazon's first hit consumer product when it launched in 2007. Amazon does not release sales figures for its Kindles or other devices. In July, an Amazon executive told the Wall Street Journal that Kindle sales "have grown in double-digit percentages for each of the past two years and are on track for similar gains this year."
People under 45 years old are the fastest-growing customer segment for Kindle, according to the Wall Street Journal.
"Customers continue to love Kindle, and are reading on their devices more than ever – sales last year hit a decade high with the majority of purchases going to first time Kindle device owners," Kevin Keith, vice president of Amazon Devices, said in a news release Wednesday.
The Kindle AI integration comes as Amazon is expected to also announced AI-powered upgrades to its Alexa voice assistant for Amazon Echo devices. The company has previewed such changes but is yet to announce an official upgrade.
Amazon Stock: Consolidation Pattern
On the stock market today, Amazon stock is down a fraction at 187.11.
Amazon stock has formed a long consolidation pattern with a 201.20 buy point, according to IBD MarketSurge.
Shares of Amazon have traded sluggishly since July. Shares hit an all-time high near 201.20 early that month before pulling back. A second quarter earnings statement that showed lower-than-expected revenue in early August sent Amazon stock tumbling lower.
Separately, Amazon on Wednesday announced three new agreements to support the development of nuclear energy projects. Amazon is among tech giants working to find ways to serve the huge energy demands of AI data centers.
