Amazon Kindle 3 begins to outsell paperbacks

Books feel the pinch as Amazon Kindle 3 sweeps board

Kindle 3 power: Paperbacks playing second fiddle thanks to e-book download figures

Amazon’s Kindle e-book is proving to be a popular choice with our friends across the pond with last quarter’s figures showing that books for the e-reader are outselling paperbacks.

The Seattle-based online retailer announced that for every 100 paperbacks sold, 115 e-books were sold and that’s excluding free downloads.

Amazon CEO Jeff Bezos said: “Last July we announced that Kindle books had passed hardcovers and predicted that Kindle would surpass paperbacks in the quarter of this year.

“So this milestone has come even sooner than we expected.”

Coupled with money being spent on discounting, the recent acquisitions of LoveFilm and and the building of new depots and and unanticipated drop in sales, Amazon’s shares have fallen 9%.

Via Tech Radar