Tuesday, October 6, 2009

Amazon Goes Global With New Kindle

. Tuesday, October 6, 2009

By stockOzone team

Amazon announced late Tuesday that it was introducing a new version of its Kindle e-book reader that can wirelessly download books in the United States and more than 100 countries.

The new device, which is expected to ship on October 19, is physically similar to the previous Kindle with a six-inch display. However, the new e-reader will be capable of downloading books and periodicals via wireless networks belonging to AT&T and its international partners.

"We have millions of customers in countries all over the world who read English-language books," Amazon.com Founder and CEO Jeff Bezos said in a statement. "Kindle enables these customers to think of a book and download it wirelessly in less than 60 seconds."

The online retailer also announced that it would cut the price of its U.S. Kindle by $40 to $259, bringing the price down to compete better with Sony's Reader Pocket Edition, which sells for $199. The price cut is the second for Amazon's e-reader in four months: in July, the price of the Kindle 2 dropped from $359 to $299. Amazon also sells a larger version called the Kindle DX for $489.

The Seattle-based e-tailer said it has listed more than 350,000 book titles on its at its Kindle Store from publishers such as Simon & Schuster, HarperCollins, Lonely Planet, Harlequin, Penguin, Bloomsbury, and Hachette.

With the announcements, Amazon is attempting to position itself for a boom in e-reader sales that Forrester Research expects in the U.S. over the next few years. A report from market researcher In-Stat predicts that worldwide e-reader shipments will jump to 30 million by 2013. The number of e-book readers on the market has risen steadily, starting with one model in 2003, three in 2006, five in 2007, and around 20 this year, notes market researcher DisplaySearch.

Disclosure: Author does not own any of the stocks discussed here.





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