Amazon now sells more Kindle books than print books

Amazon.com recently announced that in the last year, Kindle book sales have tripled  print book sales. From April 1 2011, Amazon customers purchased more Kindle books over hardback books at a rate of around 2 to 1 and In the last year, for every print book sold, there were 105 more Kindle books sold.

Jeff Bezos, Founder and CEO of Amazon.com said, “Customers are now choosing Kindle books more often than print books. We had high hopes that this would happen eventually, but we never imagined it would happen this quickly – we’ve been selling print books for 15 years and Kindle books for less than four years.”

Figures show that, so far in 2011, the tremendous growth of Kindle book sales, combined with the continued growth in Amazon’s print book sales, have resulted in the fastest year-over-year growth rate for Amazon’s U.S. books business in over 10 years. This includes both Kindle and print books. I’m not sure if that means people are reading more or that Kindle books are just more expensive than the average paper back.

The Kindle U.S store currently have more than 950, 000 books which include new releases and New York Times bestsellers. Over 790, 000 of these books are $9.99 or less and millions of pre 1923 out-of-copyright books are free.

Source: http://phx.corporate-ir.net/phoenix.zhtml?c=176060&p=irol-newsArticle&ID=1079388

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