Amazon's Kindle unlikely to set world on fire
Posted
Aug 12 2008, 03:48 PM
by
Todd Harrison
Rating:
After analysts expressed high hopes for the company's future, shares for Amazon jumped over 9%, to $88.09, on Monday. While Amazon is widely expected to maintain their industry lead in e-commerce, many believe they'll see an extra boost from sales of the Kindle, Amazon's new electronic book reader which is gaining intense buzz.
It marks the first time in years that something in the literary world has attracted this much attention - without involving a school of witchcraft and wizardry.
Released in November 2007 to compete with the Sony Reader, the Kindle already has over 4,000 reviews on its Amazon order page. 76% of users rank it with 4 or 5 out of 5 stars.
Though Amazon hasn't released the official sales record for the device, it's being dubbed "the iPod of the book world," and some predict first-year sales will match those of the popular MP3 player.
Others believe it's wishful thinking to assume John Grisham will ever be as popular as Jay-Z.
The Kindle works like a cell phone -- over a dedicated 3G network called Whispernet -- rather than via wi-fi. Users can choose from over 150,000 titles for purchase and download. Pages are displayed on a black-and-white, glare-free screen; text can be enlarged to suit your needs.
Doodling in the corners and turning the pages into a flipbook, alas, can still only be done in regular books.
Top Stocks blogging partner Todd Harrison is founder & CEO of Minyanville.com. This post was written by Minyanville Contributor Mike Schuster.
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