updated 04:10 pm EDT, Mon August 11, 2008
Kindle to sell $1.1b
Internet Analyst Mark Mahaney at Citi Investment Research is predicting the Kindle e-book reader offered exclusively by Amazon.com will sell 378,000 units this year, up from his previous estimates by a factor of two and well above the growth rate of Apple's iPod in its early years. His previous estimates of the $350 device's sales have also been bumped up from $750 million in revenue to $1.1 billion by 2010 or 4 percent of all of Amazon's business without taking into consideration a Kindle revision rumored to be released before the end of 2008.
Mahaney has no definitive numbers, as Amazon is not known to share its numbers freely, but points to the device's best-selling status, other reports of 240,000 units having been sold thus far in 2008, and educated estimates of 40,000 monthly sales. Mahaney does predict the busy fourth quarter leading up to the normally more hectic holiday shopping season will see 150,000 Kindles ship in just three months.
The Kindle was labeled as the "iPod of reading" on its annoucement and lets users purchase, download and read newspapers, magazine and books on its electronic paper display via a wireless Internet connection users can access for free. Pricing of content varies, but does represent a significant discount over their physical equivalents, with novels priced at about $10. [via Silicon Alley Insider]
Kindle sales vs. other portable electronic devices
Predicted Kindle sales numbers