• Sales of the Kindle, Amazon.com’s digital book reader, have skyrocketed and Amazon reports that it is now selling more electronic books than hardcover editions.
• In order to compete with other e-readers made by Apple and Sony, Amazon slashed the price of the Kindle almost in half - a move that increased sales even further.
• The growing popularity of the e-book boosted Amazon stock, reversing a steady decline since the recession.

Facts & Figures

• Amazon has sold 143 Kindle books for every 100 hardcover books
• Amazon will probably sell 3.7 million Kindles this year

Best Quote

“We’ve reached a tipping point with the new price of Kindle. 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.” – Jeff Bezos, Chief Executive of Amazon.com

Tags: Amazon.com, e-books, internet, Kindle, technology