Ebooks overtake hard back books

Sales of Ebooks have overtaken the sales of hardcover books for the first time, according to online retailer Amazon.

Amazon founder and chief executive Jeff Bezos added that the growth rate of sales for the Kindle had tripled since the company cut the e-reader’s price from $259 to $189 a month ago.

He said that it looks like Amazon had reached a tipping point with the new price of Kindle and more users are buying it.

He aid that while hardcover sales continue to grow, the Kindle format has now overtaken the hardcover format.

He said that this is suprising Amazon has been selling hardcover books for 15 years, and Kindle books for 33 months.

Amazon said that over the past three months, it has sold 143 Kindle books for every 100 hardcover books sold. Over the past month, Amazon has sold 180 Kindle books for every 100 hardcovers sold.

Of course it is not even looking at the sale of paperbacks which are still legion.

The Seattle-based online store sold three times as many Kindle books in the first half of 2010 as in the first half of 2009.