Once upon a time, Amazon ventured into the world of smartphones by launching the 2014 Fire Phone. The handset met its demise fairly quickly, only lasting a little over a year before getting discontinued. Although the Fire Phone was one of the company’s biggest high-profile flops, it appears Amazon is ready and willing to take another stab at it.

The latest effort, known internally as “Transformer,” is being developed within Amazon's devices and services unit, according to four people familiar with the matter.

Most of the year's major flagship TVs announced in January are typically out by the end of March, cuing retailers to push deals on last year's TVs even harder.