Daily Report: Amazon Seeks Tighter Hold on Shoppers Through a Phone

Amazon is expected to introduce a smartphone at an event in Seattle, a long-rumored project that aims to close any remaining gap between the impulse to buy and the completed act, David Streitfeld reports.

Amazon has spent the last several years furiously investing billions of dollars on multiple fronts: constructing warehouses all over the country to deliver goods as fast as possible, building devices as varied as tablets and set-top boxes, and creating and licensing entertainment to stock those devices. It all adds up to a wildly ambitious venture without precedent in modern merchandising.

Wall Street has generally cheered as competitors — an ever growing group that now includes businesses like Walmart, eBay, Apple and Google -- regard these activities with increasing unease. Customers, meanwhile, are propelling Amazon toward the rarefied ranks of companies with revenue of $100 billion.