New Kindle Starts Shipping Today, Fastest-Selling Yet (AMZN)

Amazon's AMZN new version of the Kindle started shipping today, and the latest iteration is selling more than previous models. The Kindle is an e-reader that allows users to read published works in electronic format. The product is direct competitor to Apple's AAPL iPad. According to an Engadget.com report, Amazon's "third-generation Kindles have more sales in the first four weeks of sales than any previous generation Kindles over the same time span." Further, Kindles have maintained the honor of best selling product on Amazon.com for two years. "Kindle is the best-selling product on Amazon.com for two years running and our new generation Kindles are continuing that momentum," said Steven Kessel, senior vice president, Amazon Kindle. "Readers are excited about all that the new Kindle has to offer--50 percent better contrast, 20 percent faster page turns, 15 percent lighter, up to one month of battery life--and a new price of only $139." Shares of Amazon gained 1.85% Wednesday, to close at $126.85.