Amazon (AMZN), the online retailer, has released its Kindle e-readers and e-books in Mexico. The Kindle will be sold online as well as locally through Gandhi stores in Mexico. The company has also launched its Mexico kindle e-books with over 2 million titles available, over 70000 of them in Spanish. Of these the Mexican Kindle buyers will have free access to 1500 Spanish titles.
The push into Mexico is a clear indication of Amazon’s intent to expand internationally and follows the Kindle’s India launch in June, 2013. Gandhi stores, whom Amazon is partnering with, currently have 50000 titles available to its customers and Amazon’s entry into Mexico gives customer’s access to over 2 million titles. The e-book sales represent about 1% of total book sales in Mexico, compared to 20% in the United States. Therefore the expansion into Mexico will provide the company a huge opportunity to grow its business footprint in Mexico’s e-book market. Amazon stock saw an increase of 0.85% in the bullish market yesterday, which saw the NASDAQ QNET (internet index) move up by 0.56%.
See Amazon stock price movement in our Amazon stock chart.
Source: Amazon stock chart by Amigobulls
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