Amazon.com says it's selling 80% more downloaded books than hardcovers. "The Kindle format has now overtaken the hardcover format," says Jeff Bezos, Amazon's chief executive.
- Amazon sells 143 e-books for every 100 hardcover books.
- A drastic cut in the price of the Kindle portable reader is probably a major factor. Last month, Amazon lowered the price from $259 to $189--mere hours after Barnes & Noble introduced a $150 version of the Nook.
- Paperback books, which far outsell hardbacks, were not included in the figures.
- Although revenue from retail sales of printed books has been stagnant for several years, electronic books are forecast to surge to $1.6 billion in sales in 2010 from $1 billion last year.
Read the whole story in the LA Times.
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