Amazon declares big time profit as a part of its fourth quarter announcement for sales performance. The net sales increased 42% to $9.52 billion for the recent quarter, a jump from $6.7 billion for the same period last year. CEO Jeff Bezos seems to be very happy and claims that “millions of people now own Kindles”. Overall yearly sales increased by 28% to $24.51 billion. The timing for Amazon’s announcement couldn’t be more perfect. At a time when Apple just revealed the iPad, a “publicized” good performance results from the makers of Kindle, will obviously be very convincing for a lot of people.

Overall Kindle is doing good, rather…great, but the question is whether it has enough to stand against the almighty Apple. iPad is not without flaws, then again iPhone itself isn’t perfect either, but still it retains the title of being the world’s most popular mobile phone anyway. And it might turn out to be a great eBook reader too.

[source : finance.yahoo.com]