Amazon Lowers Kindle Price As E-Reader War Heats Up
Monday, June 21, 2021 4:31 PM

Related Stories Inc. (NASDAQ: AMZN) on Monday lowered the price of its wireless e-book reader Kindle by $70 to $189 from $259. Kindle offers 600,000 books starting from $9.99 and is the bestselling product on Amazon. 

Also Monday, Barnes & Noble (NYSE: BKS) slashed the price of its own Nook e-readers by $40 to $199 from $239. The company also announced the launch of Nook Wi-fi, which will sell for $149.

The rapidly growing e-book reader market has reached an interesting crossroads. As many companies such as Apple (NASDAQ: AAPL) and others try to join the war over the e-book reader market, the competition will only get more exciting. Late in May, Apple announced that it sold 2 million iPads since its launch almost two months ago.  The iPad, which doubles up as an ebook reader, was launched on April 3 in the United States.

Industry group Consumer Electronics Association predicts global PC shipments will reach 5 million units in 2010 from 2.2 million last year.

Amazon shares slumped $3.28 or 2.61% to close at $122.55 on Monday. Shares of Barnes & Noble dropped 54 cents or 3.16% to $16.53.

Disclosure: Author doesn’t own any of the stocks discussed here.



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