Amazon's (AMZN +1.4%) event is underway. The first item unveiled is the rumored Kindle...

|By:, SA News Editor

Amazon's (AMZN +1.4%) event is underway. The first item unveiled is the rumored Kindle Paperwhite e-reader. Meant to compete with Barnes & Noble's (BKS +2.4%) Nook Simple Touch and its GlowLight display, the front-lit Paperwhite features a high-res screen and can supposedly deliver 8 weeks of battery life. It arrives at a time when e-reader shipments are pressured by tablet demand. A Wi-Fi model goes for $119, and a 3G model for $179. Its predecessor now sells for just $69. (live blog) (earlier)