Amazon Announcement: New Kindles and Kindle Fire Today

PHOTO: Amazon Kindle Fire tabletsPlayScott Eells/Bloomberg via Getty Images
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Today is Amazon's turn. The Seattle-based company is holding an event today in Santa Monica, California, where it is expected to launch its new Kindle e-readers and Kindle Fire tablet. An ad, which aired last night, showed the new Kindle e-reader and new Fire.

Late last week Amazon announced that it was sold out of the Kindle Fire. In other words, it stopped making the popular tablet because a new one was on the way.

Follow ABC News' Live Blog of the Amazon Event Here, Starting at 1:30 P.M. ET.

"Kindle Fire is sold out, but we have an exciting roadmap ahead. We will continue to offer our customers the best hardware, the best prices, the best customer service, the best cross-platform interoperability and the best content ecosystem," Amazon CEO Jeff Bezos said in a statement last week.

Amazon's Kindle Fire became one of the world's best-selling tablets last year. It runs a version of Android that has been revamped by Amazon to be centered on media consumption, including the books, music, and video services Amazon sells. The next version of the Fire has been rumored to have a faster processor and an updated design. There have also been rumors that Amazon might release a larger 10-inch tablet this week.

The Kindle Fire spurred a new market of affordable, 7-inch tablets. Google, in partnership with Asus, released the Nexus 7 in June for $199, and it quickly become popular. Apple is also rumored to be planning a smaller version of the iPad -- the so-called iPad Mini -- in October. But other companies, such as Sony, have said they don't plan to play in this lower-end space.

Amazon is also expect to update its Kindle e-readers to compete with Barnes & Noble's Nook With Glowlight. The technology site The Verge reported that a new Kindle with a "Paper White" display was coming and it was shown in an that Amazon ad.

The location of the event has also been the stuff of rumor. While the company usually holds its annual event in New York City -- the publishing capital of the world -- it is holding today's event near Hollywood -- the entertainment capital of the world. Many believe Amazon will announce new partnerships with studios and talk more about video content. Others think Amazon could release a set-top box for your TV, similar to Apple's TV or the Roku box, that would be centered on streaming video. Others have said Amazon might use the event to launch a phone.

Either way, we will find out soon enough -- ABC News will be at the event today, which begins at 10:30AM PT / 1:30 ET.