AT&T Stores to Sell Kindle E-Readers
Feb 28th 2011 7:30PM
Updated Feb 28th 2011 9:38PM
Amazon.com's (AMZN) Kindle electronic book reader will hit AT&T (T) stores Sunday, the phone company announced Monday. The Kindle 3G will sell for $189, the same price listed on Amazon.com, and buyers won't have to commit to an AT&T data plan to get the gadget.
AT&T apparently hopes the popularity of the Kindle will draw more customers to its stores and help it sell more data plans. Kindle has become the best-ever selling item from Amazon.com, boosting sales at the world's largest online retailer even as revenue growth from regular books, CDs and other media has flattened.
"As the first dedicated e-reader offered in our stores, we are confident the Kindle will be an attractive addition to our in store connected devices lineup," Glenn Lurie, president of emerging devices at AT&T, said in a statement.
Despite the news, Amazon shares fell 2.2% to close at $173.29 after research firm UBS downgraded the stock, saying the company's new instant-video service will cut into its profit. AT&T shares rose 0.9% to close at $28.38 Monday.
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