Amazon's Kindle E-reader Boosts Sales Revenue Growth for Q3
Online retailer giant Amazon has announced a significant sales increase for the third quarter of this year. This revenue growth is largely attributed to their Kindle e-book readers, which are now Amazon's bestselling product in both the UK and the US.
They have posted a sales increase of 39% to £4.8bn ($7.56bn), compared with $5.45bn (£3.46bn) in Q3 2009. In total they have experienced a 16% income growth, amounting to £146.7m ($231m) for the third quarter of 2010.
Amazon commented on the success of their e-reader in a statement: "The new-generation Kindle devices are the fastest-selling Kindles of all time and the bestselling products on Amazon.com and Amazon.co.uk."
They forecast sales in the fourth quarter of this year to be between £7.62bn to 8.45bn ($12bn-$13.3bn), which would be a further growth of 26%-40% compared to Q4 2009.
Amazon unveiled a new version of the Kindle this summer, and is currently in the process of building an online bookstore in the UK, with the aim of rivalling Apple's iPad and iBookstore.