Report: Amazon to Build Android Smartphone

Amazon is going to produce a smartphone running Google's (NASDAQ:GOOG) Android platform in a bid to both challenge Apple's (NASDAQ:AAPL) iPhone and have another vehicle through which it could sell content, according to a Bloomberg report.

The report, citing unnamed sources familiar with the matter, said that Amazon is contracting with Foxconn International to build the smartphone. The report also said Amazon is acquiring wireless patents that would help it defend itself from potential lawsuits for patent infringement.