“Amazon.com Inc. is readying an updated Kindle Fire tablet, seeking to revive demand for the 10- month-old device as the market crowds with competing machines from Apple Inc., Microsoft Corp. and Google Inc.,” Danielle Kucera reports for Bloomberg.

“Amazon is holding an event tomorrow in Santa Monica, California, where it is likely to announce the newest versions of its line of Kindle e-readers and the Kindle Fire tablet, according to Anthony DiClemente, an analyst at Barclays Plc.,” Kucera reports. “Last year’s holiday shoppers helped vault Amazon’s share of the market to 17 percent in the December period, according to research firm IDC. Demand for the Kindle Fire has since stalled — the device’s first-quarter share slipped to 4 percent.”

Kucera reports, “In June, both Microsoft and Google announced their own tablets, pushing into a market that may reach $66.4 billion this year, according to research firm DisplaySearch. And Apple plans to debut a smaller, cheaper iPad by year-end, two people with knowledge of the plans said in July.”

MacDailyNews Take: And, when and if Apple does so, nothing else will matter.

Kucera reports, “Amazon, based in Seattle, said in August that exclusive Kindle books have been purchased, downloaded or borrowed from the company’s virtual lending library more than 100 million times. Amazon doesn’t give revenue figures for purchases on the tablet. The company’s sales of all digital media last year reached $17.8 million and accounted for 37 percent of revenue, data compiled by Bloomberg show.”

MacDailyNews Note: Apple’s net sales of digital media and services were $2.1 billion in the last reported quarter (Q312).

Kucera reports, “At tomorrow’s event, Amazon may announce more than one tablet and offer the option to upgrade memory for a higher price, Barclays’s DiClemente said in a note to clients this week. The company may also add a built-in camera and let users connect to the Web through a cellular network. Right now, the device can only access the Internet through a wireless connection.”

Read more in the full article here.

MacDailyNews Take: Good luck convincing the customers you burned the first time around with that POS to try your upgraded POS, Amazon.