Tablet PCs Gaining Popularity at the Expense of E-Readers
The e-reader market has seen a surge in sales over the past year, with more consumers opting for digital reading devices due to lower prices and the growing popularity of multi-media devices.
According to Forrester Research, 6.6 million e-readers are expected to be sold in the United States this year, a significant increase from previous years. This growth can be attributed to a number of factors, including the reduced prices of popular e-readers and the increasing preference for multi-function devices.
Amazon, a key player in the e-reader market, has seen a tripling of Kindle sales since reducing the price from $254 to $189. Amazon's rivals, such as Barnes and Noble, Sony, and Kobo, have also followed suit by reducing prices on their e-readers.
The Kindle 2 can now be purchased for $189.00, the Nook for $199, and Sony has reduced prices on all of its e-readers. These affordable prices have made e-readers more accessible to a wider audience, leading to increased sales.
The growing popularity of multi-media devices, such as the Apple iPad and Archos 7 Slate PC, has also contributed to the rise of e-readers. Consumers are increasingly preferring devices that offer more than just reading capabilities, such as the ability to browse the web, send emails, and access social media.
In response to this trend, Amazon has been expanding the functionality of its Kindle. The company has recently hired new staff for a new web browser, email, and has introduced Facebook and Twitter updates in its latest firmware update.
The e-reader market has been active for the last six months, with a peak at the Consumer Electronics Show in Vegas. Earlier this week, Amazon announced that sales of e-books have surpassed hardcovers for the first time.
However, not all e-reader manufacturers have been successful. Some companies, such as iRex and Cool-ER, have filed for bankruptcy, while others, such as Plastic Logic, have refunded pre-orders and postponed the release of their e-readers.
According to Sarah Rotman Epps, an analyst for Forrester Research, companies without a strong brand or distribution network have struggled in the e-reader market. This is evident by the fact that there are no recent cases of e-book manufacturers unsupported by booksellers filing for bankruptcy.
Looking forward, the e-reader market is expected to continue growing, with approximately 29.4 million e-readers expected to be sold in the United States by 2016. However, this growth is expected to be overshadowed by the sale of tablets, with 59 million tablets expected to be sold in the same time period.
Despite the challenges faced by some e-reader manufacturers, the market is showing no signs of slowing down. With prices continuing to drop and the functionality of e-readers expanding, it is likely that more consumers will make the switch to digital reading in the coming years.
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