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Amazon's Tablet to be Named 'Kindle Fire'?

Amazon's latest Kindle tablet is set to be named the "Kindle Fire."

Amazon has sent out invitations for its upcoming press conference being held this Wednesday. Nothing specific was detailed in the invite, but many speculated this event would unveil the new Kindle tablet. TechCrunch has further revealed that the new tablet will be referred to as the "Kindle Fire."

The company is said to have finally settled on the name in order to help differentiate the product from their current e-ink Kindle models. The computer tablet is reportedly shipping during the second week of November.

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The Kindle Fire will reportedly feature a 7-inch backlit display with full-color, similar to the Blackberry Playbook. Makers of the Playbook, design group and manufacturer Quanta, also configured the Kindle Fire. It will run on Google's Android operating system, Android 2.1. The tablet will also be integrated with Amazon offerings such as the Kindle bookstore and their MP3 service.

The internal specifications of the tablet is said to feature a Texas Instruments dual-core OMAP processor. The clock speed has not yet been detailed.

Amazon has recently started to ink deals with companies such as Fox, in order to increase their television and movie content for their streaming services. These services, plus the Kindle bookstore and Amazon's MP3 offerings, will help fill the content spectrum of the tablet.

The Kindle Fire may provide some major competition for Apple's tablets, due to the Kindle's popularity and Amazon's movie and music services.

Amazon's entry into the tablet market could be beneficial for the company. According to a report from research firm Gartner, global tablet sales are predicted to hit 63.6 million, a 264 percent increase from last year.

Rumors speculate that the Kindle Fire's price will be in the $300 range. Amazon Prime has not yet been revealed as a part of the new Kindle's features.

BGC partners analyst Colin Gillis told Reuters that "Wednesday is tablet day."

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