Amazon's Fire Phone Is Like Something 'Only Steve Jobs Could Do'

Amazon AMZN unveiled its long-awaited Fire Phone today, indicating that the company is finally ready to compete head-to-head with Apple and Samsung. But if Global Equities Research analyst Trip Chowdhry is right, Amazon might not have to worry about the competition. "[Amazon CEO] Jeff Bezos and Lab126 out of Amazon have created the first device that literally challenges your imagination, something that only Steve Jobs could do and Apple cannot do anymore," Chowdhry told Benzinga. Chowdhry said that the Fire Phone is a "groundbreaking" device with two features that are "way ahead" of other devices. "One is Dynamic Perspective," he said. "You can track the person's head, eyes, and pretty much make your device a touch-less device. The second groundbreaking innovation is Firefly. That is five steps ahead of Siri. It's not just your personal assistant; it is your personal assistant on a global scale."

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Chowdhry then referred to Firefly as a "digital personalized instant encyclopedia." "It's so powerful and the difference is [that] Amazon understands the cloud and Apple doesn't," he said, adding that Amazon's new features are the result of big data solutions. Apple Could "Struggle" Chowdhry, who expected big things from the iPhone 5S, fears that Apple will have a difficult time competing with Amazon's new handset. "I think Apple will struggle because those two [features] are so groundbreaking," he said. "I'm not saying it's instant success, but you have to understand the value chain of success. You need to get the developers excited. [Amazon] has accomplished that because of two things they've come up with." Chowdhry commended Amazon for showing its SDK along with a new device. He said Apple made a mistake when it failed to do the same at WWDC. "I think Amazon is probably the new Apple now," said Chowdhry, adding that the multi-camera Fire Phone is something that no one could have imagined. No one except Amazon (and, perhaps, Steve Jobs), that is. Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.