Amazon (NASDAQ:AMZN) recently announced that they are now selling more digital format books for their Kindle e-book reader than books in hardcover. Amazon attributes this to their recent price drop from $259 to $189 for a Kindle. Since lowering the price, Amazon says sales of the Kindle have tripled.
For every 100 hardcover books Amazon.com has sold, it has sold 143 Kindle e-books during the past three months. This has increased even more during the past month, with 180 Kindle e-books sold for every 100 hardcover books at Amazon.com. The numbers do not include free e-books that are available for the Kindle book reader.
The Kindle e-book reader is reported as being Amazon’s best selling item for 2 straight years. Amazon also stated that the Kindle is the most wished for and most gifted item listed on Amazon.com.