Inc. on Wednesday unveiled the Kindle Fire tablet computer, the latest—and possibly biggest—challenger to Apple Inc.’s dominant iPad.

Priced at $199, the Fire tablet has a 7-inch screen and can access Amazon’s app store, streaming movies and TV shows, the company said. By comparison, the lowest price for a new iPad is $499.

“We asked ourselves, ‘Is there some way we can bring all of these things together [Web, movies, apps, books and games] into a remarkable product offering customers would love?'” Amazon Chief Executive Jeff Bezos said at the company’s launch event in New York. “Yes, the answer is Amazon Kindle Fire.”

Mr. Bezos noted that all the content on the Fire would be backed up remotely on Amazon’s servers at no cost. The device has a new Web browser called Silk, which is faster than other browsers because the software runs partly out of Amazon’s data centers, the company said.

The backup and Web-acceleration features are the latest examples of Amazon’s push into cloud computing, the delivery of software and computing power as a service over an Internet connection.

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