Amazon is hosting a big announcement today and for quite a while we’ve been expecting some combination of Kindles and Kindle Fires to be on the launch pad. Late last week, the company said that it was “sold out” of the Kindle Fire, which is a slam dunk indication that the old model, which showed up less than a year ago, is being replaced.

From ABC News:

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 thing to really watch for here is whether Amazon also announces a smartphone at this event, something that The Verge says is very possible:

Multiple sources have confirmed to The Verge that Amazon is working on a smartphone that runs a variant of the Kindle Fire's Android-based operating system, and we're now hearing that the device will be shown to the press tomorrow.

The Verge also reports that Amazon’s new Kindle will feature a “Paperwhite” display - even clearer - and have an 8-week battery life.

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Follow John Moe at @johnmoe