Analysts: Kindle Fire could sell 5 million this year, 20 million in 2012

Amazon only released its Kindle Fire on November 14, yet analysts have already predicted big sales figures for the multimedia tablet. It may not be able to go toe-to-toe tech-wise with Apple’s iPad, but some believe the device will carve out a sizable niche thanks to its super-low $199 price tag.

CNN Money spoke to two analysts who agreed the Kindle Fire could hit the 5 million sold mark by the end of 2011. Sarah Rotman Epps of Forrester cited Amazon’s “wider, more diverse customer base” compared to Apple’s coastal fanbase as a possible boon for the tablet. JP Morgan’s Doug Anmuth said 20 million people turned off by other tablets’ high price tags will buy the Kindle Fire in 2012.

Piper Jaffray analyst Gene Munster echoed their sentiment, calling for the Kindle Fire to sell four million units this holiday despite falling well short of the iPad’s “superior user experience.”

Meanwhile, Parks Associates CEO Tricia Parks said in a note this week that the Kindle Fire could shake up Apple’s control of the tablet market.

“Having already established itself as the leading brand in e-readers, Amazon’s entrance into the adjacent tablet space will disrupt the market,” wrote Parks. “Amazon’s competitive pricing, combined with its considerable media and application offerings, makes the Kindle Fire a serious tablet contender, likely to scoop up market share among bargain shoppers.”

Apple has sold around 40 million iPads since its release in April 2010.

Prior to the Kindle Fire’s launch, leaked data claimed over 250,000 people had pre-ordered it in just two weeks. Amazon has yet to release official sales numbers for the device, though CEO Jeff Bezos said last month the company would build “millions more” of the tablet after early demand outstripped planned supply.

Picking up a Kindle Fire by the end of the year? Let us know in the comment section.