Along with an all-new Kindle e-reader with illuminated Paperwhite display and a lower-price standard Kindle, Amazon CEO Jeff Bezos just announced an updated Kindle Fire tablet during a press conference today. The new Fire features a 7-inch display, a 40-percent faster processor, twice as much RAM, and longer battery life than the original model.

In addition to the new hardware upgrades, the updated Kindle Fire is also getting access to Amazon's new software features, such as X-Ray for Movies, X-Ray for Books, Immersion Reading, Whispersync for Voice, and Kindle FreeTime features. Amazon is also now promoting its Special Offers on the lock screen of the Kindle Fire, which will show users ads for various promotions from companies such as AT&T, Discover, and Intel.

Despite the upgrades, Amazon is actually dropping the price of the new Kindle Fire by $40 compared to the original model, as it will now sell for $159 when it starts shipping on September 14th. Customers that wish to be the first with the new Kindle Fire can place preorders for the tablet starting today.