Citigroup recently upgraded Amazon, saying more kindles will be sold than previously thought. The leading etailers stock zoomed upwards on the news in fact.
The analyst estimates Amazon will sell up to 380,000 Kindles in 2008, up from a previous forecast of 190,000. It expects Kindle-related revenue of $1 billion by 2010, compared with a previous view of $400 million to $750 million.
Many have surmised that Bezos wants the kindle to be the iPod or iPhone of books. Question is, do we already have an iPod of books and is it the iPhone?
Obviously there are trade offs between the iPhone and Kindles — the iPhone has a color screen and worse battery life while the Kindle is better for reading large amounts of content.
The question I have is why Amazon still keeps the actual number of Kindles sold under wraps. Is it just embarrassing to say you haven’t sold a million? Did Apple set such a high bar that Bezos is scared to tell us what the real numbers are?
The author owns shares in Amazon