According to "a credible source" of CNET's, it looks as though Amazon is set to unleash their second-generation Kindle Fire tablet on July 31, just over a month from now.

This would set Amazon up to combat Apple's iPad even more than they are now, launching the Kindle Fire 2 less than a year after the original Kindle Fire launched. The Kindle Fire sold quite well thanks to its cheap price of just $199.

DigiTimes has also reported that Amazon would launch a similarly-priced 7-inch Kindle tablet with a higher resolution screen of 1280x800, but the release date DigiTimes had was in Q3. DigiTimes has also mentioned that Amazon could drop the price of the current Fire to just $149, making it even more of a temptation for customers.

Considering it costs Amazon a reported $201.70 in production costs for each Kindle Fire, the Kindle Fire 2 would either represent more loses for Amazon, or they're building the tablets cheaper, let's hope for Amazon's sake its the latter.