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Kindle fuels 'fastest growth' in a decade at Amazon
27.07.11 | Lisa Campbell
Amazon.com is experiencing its "fastest growth" in more than a decade with accelerating Kindle sales, according to its founder Jeff Bezos, but at a cost to the bottom line.
The giant e-tailer increased sales by 51% in the three months to 30th June 2011 to $9.91bn (£6.04bn), but profits came in at $191m (£116m), a decrease of 8% on last year, as the company continues to invest in expansion.
International sales, which include sales at Amazon.co.uk, grew to $4.57bn in the second quarter of 2011 in comparison to $2.9bn in the second quarter of 2010, with the operating income at £172m in comparison to $206m in 2010.
Kindle 3G with Special Offers has now become the company’s bestselling e-reader, with the Kindle the bestselling item overall ahead of the DVDs of Harry Potter and the Deathly Hallows Part 1 and The King’s Speech. Amazon said that in the UK only one book featured in its top ten bestselling items by volume list, the e-book version of Truth Dare Kill by Gordon Ferris (Corvus), which came in at number 10.
"Low prices, expanding selection, fast delivery and innovation are driving the fastest growth we've seen in over a decade," said Bezos, who is also c.e.o. of the business. "Kindle 3G with Special Offers has quickly become our bestselling Kindle at only $139."