The industry is a buzz as Amazon’s own CEO is stated “We’ve reached a tipping point with the new price of Kindle—the growth rate of Kindle device unit sales has tripled since we lowered the price from $259 to $189,” declared Jeff Bezos, Amazon CEO. “In addition, even while our hardcover sales continue to grow, the Kindle format has now overtaken the hardcover format. Amazon.com customers now purchase more Kindle books than hardcover books.”
Over the past three months, for every 100 hardcover books it has sold, the e-tailer has sold 143 Kindle books. Over the past month, for every 100 hardcover books Amazon has sold, it has sold 180 Kindle books. Free Kindle books are excluded from the totals.
Amazon e-book sales tripled in the first half of 2010 compared to 2009 and its growth rate in the first five months of 2010 was higher than the 207% increase reported by the AAP.
Five authors—Charlaine Harris, Stieg Larsson, Stephenie Meyer, James Patterson, and Nora Roberts—have each sold more than 500,000 Kindle books and Amazon said that of the 1.4 million e-books that Hachette said James Patterson has sold, 867,881 were for the Kindle.
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