<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Amazon AMZN has added a vast repertoire of traditional Chinese language books on its reading device, Kindle.” data-reactid=”11″>Amazon AMZN has added a vast repertoire of traditional Chinese language books on its reading device, Kindle.
The company has added more than 20k books to its Kindle store, which is in sync with the expansion of Amazon’s e-books portfolio. These books are not only available on Kindle devices but also on the Kindle app on iPhone, iPad, Fire Tablets, and Android phones and tablets.
Further, the authors and publishers of these Chinese books will get a platform to showcase their works and writings. They will also be able to reach out to the interested readers efficiently.
The expanded book offering will likely attract more readers to the platform. Consequently, this will boost Kindle devices’ sales as well as download of Kindle app, driving revenues.
With the latest move, the company intends to cater to the growing global demand for Chinese books among Chinese readers as well as other readers.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Strong E-Book Market Growth” data-reactid=”16″>Strong E-Book Market Growth
Amazon continues to focus on expansion of its books portfolio to cater to the rising demand for e-books worldwide due to the growing internet and mobile phone usage.
Moreover, e-books, which are easily available for purchase as well as for free of cost in many cases, are gaining traction in this tech-savvy world.
Per the latest report from Statista, the global e-book market is expected to generate $13.7 billion revenues in 2019. Furthermore, the revenues are anticipated to witness a CAGR of 2.7% between 2019 and 2023 and to reach $15.3 billion by 2023.
We note that the availability of the wide range of books in Chinese as well as in other languages such as English, German, French, Italian, Arabic, Spanish, Japanese, Chinese, Russian and many more, will keep aiding the company in capitalizing on this growing market.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Bottom Line” data-reactid=”21″>Bottom Line
Amazon is well poised to cater to the growing demand for e-books with its robust Kindle features.
According to data from Statista, revenues in the U.S. e-book market are expected to reach $5.9 billion between 2019 and 2023. In addition, e-book user penetration is anticipated to hit 26.5% by 2023.
Per the company’s recent announcement, Kindle store now contains famous and award-winning Chinese books from leading authors namely Ni Kuang, Qiong Yao, Liu Cixin and PaiHsien-Yung. A few bestsellers on offer are The World Between Us and You Are The Best, classics available are Dream of the Red Chamber and Louis Cha Jing-yong Collections, among others.
Consequently, introduction of Chinese books is an effort to break the language barrier. This will boost the global expansion of Kindle.
Thus, Amazon Kindle will continue to gain momentum in the market driven by its expanding collection of books in several dialects and global penetration of Kindle use.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Amazon.com, Inc. Price and Consensus” data-reactid=”27″>Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Zacks Rank & Stocks to Consider” data-reactid=”41″>Zacks Rank & Stocks to Consider
Currently, Amazon has a Zacks Rank #3 (Hold).
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Some better-ranked stocks in the broader technology sector include Facebook, Inc. FB, IAC/InterActiveCorp IAC and AXT, Inc. AXTI, each carrying a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.” data-reactid=”43″>Some better-ranked stocks in the broader technology sector include Facebook, Inc. FB, IAC/InterActiveCorp IAC and AXT, Inc. AXTI, each carrying a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth for Facebook, IAC/InterActiveCorp and AXT is currently projected at 20.2%, 20.5% and 15%, respectively.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="More Stock News: This Is Bigger than the iPhone!” data-reactid=”45″>More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don’t buy now, you may kick yourself in 2020.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Click here for the 6 trades >>” data-reactid=”48″>Click here for the 6 trades >>
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
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Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
IAC/InterActiveCorp (IAC) : Free Stock Analysis Report
Facebook, Inc. (FB) : Free Stock Analysis Report
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To read this article on Zacks.com click here.
Zacks Investment Research” data-reactid=”49″>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
IAC/InterActiveCorp (IAC) : Free Stock Analysis Report
Facebook, Inc. (FB) : Free Stock Analysis Report
AXT Inc (AXTI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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