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Analyst: Kindle tablet to support streaming video

New 10-inch color Kindle dubbed Hollywood would feature streaming video and is expected to be out in time for the holiday season, says analyst firm Detwiler Fenton.

Amazon is prepping a new 10-inch color Kindle tablet that would support streaming video and sell for around $399, according to a report recently released by investment firm Detwiler Fenton.

Will Amazon's next Kindle be a color tablet?
Will Amazon's next Kindle be a color tablet? Amazon

Code-named Hollywood, the new Kindle tablet would include a promotional video service with Amazon reportedly offering the same movie service that it now offers for free to its Prime customers. The service would be free to Hollywood buyers for a certain amount of time, according to Detwiler Fenton.

The new Kindle would be powered by a more robust processor than is found in the smaller Kindle e-book readers and is expected to debut in time for the holiday season.

E-book readers and rival tablets alike have faced strong competition from the iPad, but Detwiler Fenton said it believes Hollywood's $399 price tag should be low enough to give it some traction against the iPad. This could put pressure on more expensive tablets, such as Motorola's Xoom and RIM's BlackBerry Playbook, each of which is expected to sell around 1 million units this year, said the investment firm.

It comes as no secret that Amazon has reportedly been busy readying its own lineup of tablets, according to various sources and some hints from CEO Jeff Bezos. One of the reports refers to "Hollywood" as the code name for a new 10-inch tablet from Amazon, to be powered by Nvidia's quad-core Kal-El chipset.