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The Amazon.com Kindle e-reader and bookstore have reached a "tipping point," the company said Monday, with Kindle titles outselling hardcover books on the massive online marketplace for the first time.
"We've reached a tipping point with the new price of Kindle--the growth rate of Kindle device unit sales has tripled since we lowered the price from $259 to $189," Amazon founder and CEO Jeff Bezos said in an announcement release, referring to last month's price drop for the device. "In addition, even while our hardcover sales continue to grow, the Kindle format has now overtaken the hardcover format. Amazon.com customers now purchase more Kindle books than hardcover books--astonishing, when you consider that we've been selling hardcover books for 15 years and Kindle books for 33 months."
This may not be surprising given what Amazon has invested in the Kindle and may be biased by Amazon's patron demographics, but it is interesting nonetheless.