The world of e-books and e-readers is one of the most competitive and lucrative verticals in the technology industry, and as more and more people are putting their paper backs in the shelves and taking up e-readers, numerous companies have now entered into the e-Reader circus. Especially, since the launch of the Apple iPad, that not only works as an e-reader, but also fulfills other requirements, one of the major players in the e-reader domain, Amazon, has finally taken steps to keep its edge in the market.

Amazon, the maker of the popular e-reader Kindle, is now all set to introduce new and much cheaper versions of Kindle on August 27th, 2010. This all new device is said to be 21 percent smaller and 15 percent lighter than its predecessor. The new Kindle will also provide a 20% increase in the refresh rate on the display and will be available in two colors, graphite and white. The all new lighter and smaller Kindle will be released in two models, one being the wifi only, that would cost $139 and other would be a 3G Kindle with a price tag of $189. Both these models have been given a memory increase, bringing it to 4GB and enhanced battery life, where in the Kindle can operate for 30 straight days without wifi and 10 days with wifi switched on. Furthermore, Amazon has also announced its plans for two new Kindles for the U.K market, that would cost, $170 and $232 respectively, along with an online e-bookstore, especially for U.K. consumers.

According to Jeff Bezos (CEO, Amazon.com),

“Kindle is the best-selling product on Amazon for two years running. We lowered the price to $189 and sales growth tripled. Now, we are excited to introduce a new generation Kindle that is smaller, lighter, and faster, with 50 percent better contrast. Readers are going to do a double take when they see Kindle’s bright new screen and feel how remarkably light the smaller 8.7 ounce design feels in one hand. If you don’t need the convenience of 3G wireless, we have an incredible new price point-$139 for Kindle Wi-Fi. Kindle Wi-Fi has all the same features, same bookstore, same high-contrast electronic paper display, and it’s even a tiny bit lighter at 8.5 ounces. At this price point, many people are going to buy multiple units for the home and family.”

Via Engadget & Wall Street Journal