Amazon.com Inc. (NASDAQ:AMZN) Introduces Kindle Unlimited for $9.99/Month

Electronic gadgets have gained much popularity in the recent years. Perhaps this is the reason why Amazon.com Inc. (NASDAQ:AMZN) has added Kindle Unlimited to its Kindle reading app and e-reader. This offer will cost its subscribers $9.99 per month.

Kindle Unlimited is the new book rental service that Amazon has introduced; this service allows the subscribers to access all the Amazon libraries and check out around 600,000 e-books. This service also allows the subscribers to get a hold of Amazon’s audio books. Not only this, but Kindle Unlimited will allow its users to access all the audible titles by giving them a three month access membership.

Moreover, the subscribers will also be able to access some additional features like Popular highlights, Whispersync, X-ray features, integration of Goodreads and customer reviews. The users will be able to share any book that they want to, and they will also be able to access all the helpful insights about different books. Users will be able to listen to titles and read books on any of the Kindle devices. They can also run the Kindle app on iOS platforms as well as the Google android phones.

The book business is changing rapidly. With all the latest advancements in the technology and the introduction of kindles, iPads and other android devices, customers prefer e-books over the traditional hardcover books. PricewaterhouseCoopers (PwC) recently released its report, which indicated that the trade of e-books will reach around $8.2 billion in the region of United States by the end of 2017. Keep in mind that these estimates have been made excluding the educational books and publications. There has never been so much growth in the e-book market, which it has been witnessing right now. This growth is beneficial for both the readers as well as the authors.

Sources have it that Amazon.com Inc. (NASDAQ:AMZN) has been adding a number of new features in its libraries, which will be much preferred by its customers. The company, with the introduction of Kindle apps and Kindle reader, has become the largest e-book seller in the market and its presence in the market has become noteworthy. The company currently holds more than 60 percent of the market share due to its economic prices and attractive features.

Amazon.com Inc. (NASDAQ:AMZN)’s recent quarter’s earnings surpassed the Zacks consensus of 22 cents. The biggest e-book seller in the market currently holds a #5 rank on its stocks by Zacks.

In the last trading session, July 22, 2014, Amazon.com Inc. (NASDAQ:AMZN) started its stocks at a price of $355.25 and closed at a price of $360.84. The intraday range for the company was recorded to be from $355.25 to $362.93. The company has a total market capitalization of $166.05 billion with a price to earnings ratio of 565.12. As far as the 52 week high and 52 week low of the company are concerned, the figures are reported to be at $408.06 and $279.33 respectively. The company has a beta of 0.77 and an EPS (Earnings per Share) of $0.64.