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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
Wednesday, Jul 09
00:30 Consumer Credit Change 1 $5.10B $11.00B $16.87B Revised from $17.87B
02:00 API Weekly Crude Oil Stock 1 7.10M -2.80M 0.68M
07:30 RBNZ Monetary Policy Review 3
07:30 RBNZ Interest Rate Decision 3 3.25% 3.25% 3.25%
15:00 10-y Bond Auction 1 4.635% 4.588%
16:00 FPC Statement 1
16:00 FPC Meeting Minutes 1
16:30 MBA Mortgage Applications 1 2.7%
19:30 Wholesale Inventories 1 -0.3% -0.3%
20:00 EIA Crude Oil Stocks Change 1 -2.000M 3.845M
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