Kindle book sales overtake paperbacks on Amazon
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Sales of e-books overtook sales of paperback books on Amazon in the last quarter of 2010, when the online retailer notched up its first $10bn quarter.
For every 100 paperback books sold, Amazon is selling 115 Kindle books, although sales of paperbacks are also increasing.
Profit before tax for the last quarter of 2010 rose to $506m (£319m) from $471m the year before, with full-year profits rising to $1.49bn from £1.16bn in 2009.
Sales at Amazon passed the $10bn mark for the quarter for the first time, rising 36% to $12.95bn (£8.16bn). Full-year sales rose 40% to $34.2bn (£21.55bn).
Jeff Bezos, chief executive of Amazon.com said: "We achieved two big milestones. We had our first $10bn quarter, and, after selling millions of third-generation Kindles with the new Pearl e-ink display during the quarter, Kindle books have now overtaken paperback books as the most popular format on Amazon.com.
Published by: Brand Republic
Published 31st January, 2011
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