Amazon (NASDAQ:AMZN) has moved from being an online bookstore into being an online everything store that also makes e-readers, tablets, and now a digital streaming set-top box. Now it appears the company is getting closer to entering the crowded mobile smartphone space.

Host Jason Hellmann and Fool contributor Daniel Kline debated whether such a product was needed or even wanted on Business Take, the show that gives you the Foolish perspective on the most important business stories of the week.

Hellmann kicked off the segment by asking Kline if the rumors were credible. 

"There have been some photos leaked and some of the credible sites have been saying that this is a done deal -- Amazon is going to be releasing a phone," Kline said.

Once the two established that there may be fire behind the smoke Hellmann asked how a phone fits into Amazon's business model.

Kline -- who acknowledged that between himself, his wife, and his 10-year-old son his household contained four Kindles plus an Amazon Fire TV -- argued that a phone makes sense because it keeps customers inside the comfortable Amazon ecosystem.

"I know how to shop on Amazon," he said. "Whether it's my Kindle reader or my son's Kindle Fire I know how to buy a product. On the Fire TV it's really simple to learn. When it shows up at your house it already has your account information. There's no setup.... You know when an Amazon Phone shows up your books will be in it, all your stuff will be there."

The pair then discussed Amazon's much-questioned strategy of investing heavily and pushing off profits in the pursuit of continuing to develop its platform.

Will you buy an Amazon Phone? Is this a terrible idea where Amazon will lose money? Share your thoughts in the comment section and let us know.

Daniel Kline has no position in any stocks mentioned. Jason Hellmann has no position in any stocks mentioned. The Motley Fool recommends The Motley Fool owns shares of Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.