Amazon has record Kindle sales

AMAZON, THE largest internet retailer, said that it sold “well over” one million Kindles a week in December, with record demand led by its Kindle Fire tablet.

The top three sellers on Amazon’s website were the Kindle Fire and two electronic readers, the Kindle Touch and Kindle, the Seattle-based Amazon said.

Gifting of Kindle books rose 175 per cent from a year earlier in the period from November 25th to Christmas Day, Amazon said without providing sales data.

The company introduced the Kindle Fire, which has a seven-inch display and sells for less than half the price of Apple’s least-expensive iPad, in September in a bid to erode Apple’s dominance.

Amazon is releasing a Fire update to improve performance, after some users complained.

Shares in Amazon fell as much as 4 per cent in New York after Goldman Sachs said the internet retailer may miss analysts’ sales estimates for the fourth quarter.

Amazon’s sales may grow 38 per cent from a year earlier to $17.9 billion, less than analysts’ average estimate of $18.2 billion, Heather Bellini, an analyst at Goldman Sachs, said.– (Bloomberg)

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