At their live event in Santa Monica today, Amazon announced a flurry of new gadgets, including new Kindle e-readers, a revamped Kindle Fire, and a new 8.9-inch tablet.

Jeff Bezos showed off on stage a new version of the successful Kindle Fire, one that comes with better specs and a smaller price. The new Kindle Fire is promised to offer better performance, thanks to double the amount of RAM over the first Fire and a faster processor. The souped up specs should provide a respectable 40% bump in performance according to Amazon’s CEO. In spite of the improved performance, the new Kindle Fire is supposed to have better battery life.

The new Kindle Fire will cost just $159, which is $40 less than the first Kindle Fire and the Google Nexus 7. Google and Asus have just been one uped.

The device will start shipping on September 14, but you can preorder one today.