Sony has predicted that e-book sales will surpass those of traditional books within the next five years.
Speaking to The Telegraph, Steve Haber, the head of Sony's e-reader division, said: “Within five years there will be more digital content sold than physical content. Three years ago, I said within 10 years but I realised that was wrong - it's within five.”
In light of current e-book sales, however, traditional book publishing houses believe Sony's claim to be far-fetched - currently, e-books sales account for less than one per cent of total book sales in the UK.
Publishing giants claim that it will take a lot more than five years for ebooks to overtake traditional books, as e-books have a much smaller user base to start from.
Even so, the growing pace of e-book sales and the launch of a number e-book readers, such as the Sony e-reader and Amazon Kindle, coupled with the availability of ebooks for Apple's new iPad through its iBookstore have all helped the fledgling market to expand.