Amazon's Kindle Popularity Aids in 68% Profit Climb for First Quarter
Online retailer giant Amazon has posted a rise in profits of £194.6 million for the first quarter of 2010. Their sales have risen 46% to 4.64bn during the three months to the end of March.
Founder and CEO of Amazon, Jeff Bezos, said, "We remain heads-down focused on customers. Amazon Prime has just celebrated its fifth anniversary, adoption of Amazon Web Services continues to accelerate, Kindle remains our bestselling product, and earlier this week Kindle selection reached 500,000 titles."
The Kindle e-reader allows users to download e-books on the go and store up to 3,500 books. The large-screen, 9.7inch e-reader became available outside the US in January.
Jeff Bezos commented on the product popularity, saying,"Kindle owners read, a lot. When we have both editions, we sell six Kindle books for every ten physical books. This is year to date and includes only paid books - free Kindle books would make the number even higher."