Of Internet Users, Almost One-Third Intend to Buy a Kindle

By Andrew Litz, TMCnet Web Editor

According to a report by Business Insider, 28 percent of Internet users surveyed by J.P. Morgan in December 2010 say they own a Kindle or plan to buy one in the coming year. The Kindle is Amazon's top-selling product, with more than 5 million selling since August 2010. The Kindle was also Amazon’s best seller during the 2010 holiday season.

As the survey shows, the Kindle is increasingly making inroads among iPad owners. Of iPad users surveyed, 40 percent already own a Kindle, and 23 percent plan to buy one within the next year.

 The substantially lower price point of the Kindle product is spurring this trend, according to J.P. Morgan analyst Imran Khan. The low-end Kindle costs $139, whereas the least expensive iPad, at $499, is in an entirely different price category. Partly because of Amazon’s success with the Kindle, Khan rates Amazon as a top Internet stock pick for 2011.

With overall e-book revenue exploding, rising  from 1 percent of overall book revenue to 9 percent during the period from 2008 to 2010, the e-book could begin to cannibalize sales of physical books. One retailer, Barnes and Noble, has consequently begun moving into the e-book space with its e-reader, the Nook, with some success. The survey revealed that 45 percent of respondents had heard of the Nook, 76 percent the Kindle and 84 percent the iPad.

Barnes and Noble’s brick and mortar business offers the consumer additional advantage of being able to demo products with assistance from the store’s staff, as well as prices starting at $149. The Nook has been a best-selling product for Barnes and Noble, according to InformationWeek.

(source: http://gadgets.tmcnet.com/topics/gadgets/articles/131309-internet-users-almost-one-third-intend-buy-kindle.htm)

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