Amazon said in a statement that in the past 3 months, it has sold 143 ebooks for every 100 hardcover books sold on its website. Over the past month, for every 100 hardcover books Amazon has sold, it has sold 180 Kindle ebooks. Free Kindle books are excluded and could make the number even higher, if included.
There was a noticable event last month: Amazon cut the price of the Kindle ebook reader as a business answer to competition from Apple’s iPad tablet and Barnes & Noble’s Nook device.
Jeff Bezos, the founder and chief executive of Amazon, says: “We’ve reached a tipping point with the new price of Kindle. The fact that customers now purchase more Kindle books than hardcover books is astonishing when you consider that we’ve been selling hardcover books for 15 years, and Kindle books for 33 months.”
According to “The Independent”, Amazon shares were up $1.06 in after hours trading from a closing price on Monday on the Nasdaq Stock Market of $119.94.
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