Amazon Kindle, which got a price drop last month and now sells for $189 has been selling like hot-cakes according to a recent press release from Amazon. Kindle Books have also been outselling Hard Copy books in the past 3 months.
According to Amazon, the Kindle has been the best selling device for over 2 years and is also the most-wished-for, most-gifted and the product which has received the most 5 star ratings on Amazon.com.
"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," said Jeff Bezos, Founder and CEO of Amazon.com. "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–astonishing when you consider that we’ve been selling hardcover books for 15 years, and Kindle books for 33 months."
Amazon has had to cut the Kindle price thanks to competitors like Sony and Barnes and Nobles slashing pricing and also more direct competition from the Apple iPad in the e-Book reader segment. However, the price drop has helped significantly along with some good sales in Kindle books too.
Amazon states that over the past three months, for every 100 hard copy books sold by Amazon, there are 143 Kindle books sold. The past three months Kindle books sale is 3 times that from the earlier quarter.
The U.S. Kindle Store now has more than 630,000 books, including New Releases and 106 of 110 New York Times Best Sellers. Over 510,000 of these books are $9.99 or less, including 75 New York Times Best Sellers. Over 1.8 million free, out-of-copyright, pre-1923 books are also available to read on Kindle.
More at the Official Amazon Press Release.