Amazon takes $170M hit on Fire Phone

Amazon is reportedly sitting on $83 million worth of unsold Fire Phones and took a large hit in the third quarter because of it.

Chief Financial Officer Tom Szkutak disclosed on a conference call with investors Thursday that the company took a $170 million charge related to the write-down of costs associated with its smartphone, according to CNET.

The struggle underscores the difficulty of entering the smartphone business, where Apple remains the lone player able to generate significant profits and even market leader Samsung has had difficulties

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