Amazon.com , is pricing the new Kindle Fire tablet at $199, dramatically undercutting the Apple iPad, which starts at $499, Bloomberg reports . The low price point is finding an enthusiastic audience on the Street, where AMZN shares are on the rise Wednesday morning.
The price point is well below the $249 level that many analysts had expected. The device ships November 15.
Update : Follow live coverage of the morning's events by my colleague David Ewalt, who is on the scene at the launch event in New York City.
The device will have a 7-inch display screen and run Google's Android operating system software. The device has WiFi, but no 3G access, and comes with a 30-day free trial of Amazon Prime.
AMZN is up $7.79, or 3.5%, to $232.
Update : The company also is unveiling a new $99 black-and-white touch-screen Kindle e-booked reader called the Kindle Touch; a 3G version is $149, both shipping November 21. A new Kindle without touch features is priced at $79.
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