Amazon.com execs: Kindle not quite the huge hit everyone says it isNicholas Carlson · 08/25/08 09:40AM
After a TechCrunch report said that Amazon.com had already sold 240,000 Kindles this year, Wall Street analyst Mark Mahaney called the Kindle "the iPod of the book world." Now Amazon.com says both Mahaney and TechCrunch spoke too soon and without talking to the right people. The right people, according to analysts from McAdams Wright Ragen, being analysts from McAdams Wright Ragen.They say Amazon executives told them "high-end estimates on Kindle sales reported by TechCrunch and a Citigroup analyst are not reasonable." Writes one of the McAdams Wright Ragen analysts: " told us that the Kindle is definitely selling very well, but they also said the analysts and reporters giving out these extremely high estimates 'did not run them by company. Since we've never seen a Kindle in person, we're inclined to believe the Amazon executives when they say the Kindle isn't quite such a huge hit. But the suits might also be trying to keep expectations low enough to be easily surpassed.