Amazon Profit Soars in Q4; Kindle Strong Sales Driver

January 29, 2010 /EIN PRESSWIRE/ Amazon reported a 71 percent increase in net profit for Q4, fuelled by strong holiday shopping, including increased demand for its Kindle e-reader and e-books.

Amazon sales for the quarter were up 43 percent to $9.52 billion; Amazon's total sales for 2009 came to $24.51 billion. Although Amazon did not release a sales figure for Kindle specifically, Amazon CEO Jeff Bezos said the company sells six Kindle books to every 10 physical books when both editions are available.

According to Forrester Research, Amazon's Kindle owns nearly 60 percent of the e-reader market share in the US. Will Amazon's Kindle thrive when the new kid, the Apple iPad, comes to the market?

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