Paperbacks Take Backseat to E-Books

Amazon’s e-book business reached another milestone during the 4th quarter of 2010, as e-books outsold paperbacks for the first time. Sales from Amazon’s Kindle e-book service surpassed hardcovers in sales earlier in 2010. Since the beginning of this year, not counting free books, Amazon has sold 115 e-books for every 100 paperbacks sold. The news came from Amazon’s 4th quarter earnings report, which was highlighted by the fact that the company had its first $10 billion quarter in its history.