Amazon.com Inc on Wednesday introduced a larger souped-up version of its Kindle electronic reader designed for students, academics and newspaper readers.

The new device, called the Kindle DX, has a larger screen, more memory and software to make it easier to navigate large documents and is priced at $489, compared with the $359 price of the original Kindle, which debuted in 2007.

Amazon said that five universities would launch trials using the DX beginning this fall.

Amazon Chief Executive Jeff Bezos attended a New York press conference to announce the launch, together with Arthur Sulzberger Jr., publisher of The New York Times.

The New York Times, Boston Globe and The Washington Post will offer the DX at a reduced price to readers where home delivery of those newspapers is not available.

Textbook publishers Cengage Learning, Pearson and Wiley will offer their books through the Kindle store starting this summer, Amazon said.

Amazon's Kindle, which was updated earlier this year, allows users to read books, newspapers, magazines and blogs on the hand-held device. The Kindle is only available in the United States.

Shares of Amazon were down 2 percent to $80.26 on the Nasdaq.

(Writing by Alexandria Sage; Editing by Derek Caney)

Jeff bezos The New York Times Amazon Kindle