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Tuesday, June 22, 2010

Amazon cuts price of Kindle e-book reader

Online retail giant Amazon.com has joined the price war of e-book readers, and has slashed the price of its popular Kindle reader by more than a quarter.

The Kindle is available at a new price of $189, down from the previous $259, Xinhua reported citing a statement released by Amazon.

Amazon’s move came hours after Barnes and Noble, the largest bookseller in the US, slashed the price of its 3G Nook e-book reader from $259 to $199. Barnes and Noble also introduced a Wi-Fi version of Nook which is priced at $149.

Amazon said it will continue to offer free 3G connectivity for Kindle with no monthly fees or annual contracts.

Amazon sells another e-book reader called Kindle DX, whose price has remained unchanged at $489 since it was unveiled in May 2009.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Apr 15
03:30 Fed's Harker speech 2
04:15 Food Price Index (MoM) 1 0.5% -0.5%
04:31 BRC Like-For-Like Retail Sales (YoY) 2 0.9% 0.5% 0.9%
05:10 Fed's Bostic speech 2
07:00 RBA Meeting Minutes 3
11:30 Employment Change (3M) 3 144K
11:30 ILO Unemployment Rate (3M) 3 4.4% 4.4%
11:30 Average Earnings Including Bonus (3Mo/Yr) 2 5.7% 5.8%
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 6.0% 5.9%
11:30 Claimant Count Rate 2 4.7%
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