To satisfy the enduring need to gulp down a book whenever they find a comfortable spot, readers can now own a brand new Amazon tablet without breaking the bank. The largest online retailer has released a spanking new model that only costs £50. While the price tag isn't asking too much, the product is rich with features for its would-be owners.

For one, it is packed with Amazon's sprawling new content hub called Amazon Underground, where bookworms and film fanatics alike will enjoy a flurry of apps for free as well as purchase books and movies from the device. Amazon boasts that Underground has "everything from the regular Amazon shopping app and more."

Bookworms will be able to store titles worth up to 128GB, which should have enough space for quite a ton. Users will also get to enjoy reading on its 7-inch display and its quad-core processor under the hood, which should be enough to keep the tablet alive for users' straightforward needs, may it be reading, watching movies or shopping on Amazon.

The best part about this low-cost Amazon tablet is that it is promised to last "all day." That means, it will be up and running long enough for readers to flip through many chapters of the books. "Today, we're taking another step in our mission to deliver premium products at non-premium prices. Fire sets a new bar for what customers should expect from a low cost tablet," Amazon founder and CEO Jeff Bezos said as quoted via The Bookseller.

Earlier this month, Wall Street Journal reported that Amazon's pricier tablets haven't been selling well and so the company planned to launch a brand new iteration that's basically half the price of its 6-inch Fire HD tablet. The publication plans to release this £50-tablet with a ton of new 8-inch and 10-inch ones during the holiday season.

It is also apparently planning to lower the price of its Fire HD Kids Edition to £99.99. The kid-friendly device housed in a "kid-proof" case is complete with a web-browser fashioned especially for youngsters and gives away one year of Fire for Kids Unlimited and a two year guarantee.

"Earlier this year, we brought the first tablet built from the ground up for kids and their parents to the UK - and customers loved it. With the new Fire Kids Edition we've added more great content and features for parents and kids while lowering the price," Amazon Devices vice president Peter Larsen said via The Bookseller.