Statistics have revealed that in the final months of 2010, Amazon sold more e-books than it sold paperback copies.
The world’s biggest online retailer says that the Kindle e-reader was the best selling item in the company’s 16-year history.
The results showed that for every 100 paperbacks that the company sold, it was matched by 115 Kindle books.
In the last three months of last year, net sales rocketed past $10bn for the first time, up 36% to $12.95bn, though analysts had predicted a higher figure.
Net income for the three months came in at $416m which was up 8% from the same period last year.
Amazon’s operating margin declined to 3.7% from 5% at the end of 2009 and predictions claim that the margin would lie between 2.8% and 3.8% in the first quarter of 2011.
Despite the overtaking e-books, Amazon stressed that sales of paperback books were also growing.
Jeff Bezos, Amazon boss said “last July we announced that Kindle books had passed hardcovers and predicted that Kindle would surpass paperbacks in the second quarter of this year
“So this milestone has come even sooner than we expected – and it’s on top of continued growth in paperback sales.”
Are we approaching the death of paperback books? How readily would you pick up a Kindle in place of your text trip to Waterstone’s?