Amazon Kindle eBook Sales Surpass Paperbacks

Amazon sold more Kindle ebooks than paperbacks in the US during the last three months of 2010, the online retail giant has revealed.

According to The Telegraph, figures released by Amazon refer to the US market only and the number of ebooks sold are related to those for the company's own Kindle e-reader device.

Kindle, which now dominates the e-reader market with a 41.5 per cent market share, is expected to sell more than 8 million units this year, more than the 2.4 million it sold last year, Bloomberg has reported.

Amazon CEO Jeff Bezos said in a statement: “Last July we announced that Kindle books had passed hardcovers and predicted that Kindle would surpass paperbacks in the second quarter of this year.”

"So this milestone has come even sooner than we expected - and it's on top of continued growth in paperback sales."

The company posted a net sales increase of 36 per cent to £8.2 billion during the final three months of 2010. Amazon's net income was at $416 million, an 8 per cent increase from last year.