This weekend has been all about rumors, and the latest rumor comes from a Bloomberg report. This report, first mentioned by Mashable, includes information that Amazon might be building an iPhone competitor. Amazon came out with the company’s first tablet not so long ago, so a smartphone coming from the same content giant might make a lot of sense. But, just how true is this rumor? Right now, Amazon hasn’t commented on the story officially, though plenty of tech blogs are picking it up in speed.

I’ve decided to head right to the source of the matter and scope out that Bloomberg article for additional details. If you’re wondering what kind of smartphone might hit the market next, you might want to take a look at what Amazon is, reportedly, in the midst of building (with the Foxconn gang, no less). Here are the details about Amazon’s upcoming smartphone.

First, The Patent Process

Apple’s fight against patent infringement is really no secret. The iOS company has gone after many different companies that have gotten too close to the Apple secrets. So, were Amazon to clone the iPhone, or create a phone like it, there’s no doubt that Apple will go after this company in court as well. In order to avoid any kind of patent headache, Amazon is reportedly working on the patent side of the matter by filing for patents and making sure all is in place well before letting the public get its hands on the new Amazon smartphone.

Making sure that all patents are in place prior to releasing an Amazon smartphone is probably the only way to avoid Apple’s wrath. Just how similar to the iPhone will Amazon’s phone look? There’s no way to tell quite yet, but those rumors that Amazon is working on smartphone might actually be more than rumors. According to the same Bloomberg report, a Citigroup analyst told press last November that Amazon was working on a smartphone.

Why an Amazon Smartphone Would Make Sense

If you check your ethics at the door, buying an Amazon smartphone would mean being able to buy a phone that’s (possibly) comparable to the iPhone for a fraction of the price. Since Amazon is working with Foxconn (hence, the ethics statement), you can bet that the new smartphone will be built and priced to compete with the iPhone directly. When and if the new phone arrives on market shelves, Amazon will then have a whole lineup of digital devices. Devices that the average consumer will have a hard time passing up based on quality and pricing alone.

I’m betting at this point you’re wondering when the new phone will arrive or what, exactly, that price point will be. At the moment, Amazon hasn’t actually made any of these announcements, but there’s something that you may or may not know about the technical world: it all happens during the summer months. When most people are out playing and soaking up the sun, companies like Amazon and Apple are hard at work on new devices. Why? Just after the last leaves drop during the fall, the holiday season will arrive…and holidays mean lots of shopping dollars for companies that are looking for a revenue boost. In other words, look for a new Amazon smartphone this coming winter.