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Category: Money

Kindle Books Outsell Paperback Books

Written on January 31, 2011 by R. Depp

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Another evidence to show that modern technology is eating us alive: E-books reigned supreme against paperback books.

Last July, Amazon caught the attention of many when it claimed that Kindle (their very own e-reader) was doing great versus hardcover books. However, analysts took for granted such claim because paperback books are still in demand.

And then a surprising news came: e-books have toppled down their paperback competitors.

Amazon CEO Jeff Bezos confirmed the news through a statement, “This milestone has come even sooner than we expected — and it’s on top of continued growth in paperback sales,”

The company gave out a statistics as a proof: in every 100 paperback books sold, 115 are purchased. See how is e-book is leading the race?

Furthermore, Amazon has quarterly sales of $13billion last year and their earnings reached the net income of $416 million.

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