Amazon selling more eBooks than real ones
The Amazon Kindle 3 - spurring on eBook sales
It’s a tipping point many of us confidently predicted would never come. Amazon has revealed that it is now selling more Kindle eBooks than traditional paperbacks.
According to the Associated Press, since the start of the year the online retailer flogs 115 digital tomes for every 100 physical ones snapped up by the buying public.
Having seen eBook sales steam past hardback sales in mid-2010, Amazon had originally predicted paperbacks would hold on as the most popular delivery method for new titles until the second quarter. However, the now-traditional Christmas spike in Kindle reader sales has given digital sales new momentum.
“This milestone has come even sooner than we expected, and it’s on top of continued growth in paperback sales,” Amazon CEO Jeff Bezos commented.
So good news all round for Amazon, right? Not quite. Despite the positive sales figures, the company’s most recent quarterly earnings figures failed to match analyst expectations, sending Amazon’s share prices down nearly 10 per cent.
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Mark Williams01 February 2011
Very true, but the reason for drop in quarterly's was because of investment in bricks and mortar property and development
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