Kindle To Account For 10 Percent Of Amazon's Revenue

Amazon’s Kindle e-reader is sailing high in terms of sales figures, and now accounts for a significant portion of the company's total revenue, new reports revealed.

Kindle made its debut in the market three and a half year years ago in November 2007, and ever since it has earned a high reputation in the ever-growing e-reader market.

Amazon was unwilling to reveal the actual sales figure of the device, but according to Mark Mahaney of Citigroup, Amazon is going to sell 17.5 million units of the device in 2011 alone, and another 26 million next year, Techplz reports.

Mahaney also believes that Kindle readers and books are going to earn the company over $6.1 billion next year, almost 10 percent of its overall revenue.

Recently Amazon revealed that the demand for ebooks now surpasses that of print books with a ratio of 105:100. Amazon's e-reader is the most popular in the market, with Barnes & Nobles Nook, the Sony Reader and the Kobo e-reader rounding out most of the market.

Although Amazon still has the lead, continued innovation has made this market more competitive with the Nook switching to a more tablet-like form and the Kobo e-reader introducing a touchscreen while keeping its e-ink display.