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Amazon Enhances Its Services in an Effort to Dominate Multiple Markets


Will Prime and Kindle Fire be followed by an Amazon phone? It could happen.

MINYANVILLE ORIGINAL Yesterday, Amazon's (AMZN) shares hit a record high of $251.38, rising 2.10% in response to the reveal of its new Kindle tablet. Positive vibes seem to be continuing; in today's pre-market, Amazon was quoted to rise 1% and is being actively watched by many. Although this wave of interest in Amazon is accredited to the new Kindle, it should be noted that Amazon has been investing recently in numerous new features to help it grab control of multiple markets, or else distinguish critical edges against its opponents.

Amazon also recently made news with its new upgrades to the Amazon Prime service. For those unfamiliar with Prime, it is an premium membership to its Internet marketplace that costs an annual fee of $80 in exchange for shipping discounts, movie streaming, and discounts on items from the Kindle library.

The upgrades to the service is a knife pointed not only at the throats of retailers like Target (TGT) and Best Buy (BBY), but also Netflix (NFLX), which is struggling to gain traction since its disastrous service split fiasco last year. Netflix would be right to worry; a major aspect of Amazon's Prime upgrade includes a partnership with Viacom's (VIA) video-on-demand service, Epix, which will more than double Amazon's streaming service and give subscribers access to more recent blockbusters. The Epix partnership could be a turning point for the service, which failed to pick up many members in its introduction a few years, but is starting to gain momentum now.

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