iPhone 5 release date: Amazon Smartphone to Compete with Apple

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Amazon.com Inc. will be coming up with a smartphone of its own that would compete with Apple's iPhone and Google's Android. According to GMA News, the retail titan is working with Taiwanese-based Foxconn International to create its own smartphone. Bloomberg confirms the speculation quoting two reliable sources.

According to reports Amazon's phone will cost less than the iPhone as well as the Android. Its affordable price range will be its marketing point. In addition to the price, Amazon is also said to be creating a complementing wireless service, similar to the one provided complementary to its Kindle Fire- Amazon's hugely successful book-reader cum tablet.

The news of Amazon's smartphone comes only a day after rumors about Apple's smaller iPad made waves. According to reports, the tablet would complete with Amazon's Kindle Fire.

Wall Street Journal speculates that the tablet will be introduced in Asian markets as soon as September. The new iPad is said to be 7 inches, which makes it 3 inches smaller than the current iPad model. Certain leaks are also suggesting that the new and smaller iPad will cost much less than its current model.

Last week there have conclusive rumors that Apple is moving the release date of the iPhone 5 to August instead of November in light of the highly successful sales of Samsung's Galaxy. Apple is currently in litigation with the South Korean company over patent issues. On Wednesday Apple implemented a court injunction that banned the sales of the Galaxy Nexus.

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