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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, Jun 03
07:00 Company Gross Operating Profits (QoQ) 1 -0.5% 1.1% 6.0% Revised from 5.9%
07:00 Current Account Balance 1 -14.7B -12.0B -16.3B Revised from -12.5B
12:00 Consumer Price Index (YoY) 3 -0.1% -0.1% 0.0%
12:00 Consumer Price Index (MoM) 2 0.1% 0.1% 0.0%
14:45 BoE Monetary Policy Report Hearings 3
18:25 Redbook Index (YoY) 1 6.1%
19:30 RealClearMarkets/TIPP Economic Optimism (MoM) 1 49.1 47.9
19:30 JOLTS Job Openings 2 7.100M 7.192M
19:30 Factory Orders (MoM) 2 -3.0% 3.4% Revised from 4.3%
n/a GDT Price Index 1 -0.9%
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