But what does the e-book era mean for UK investors?
Bibliophilic Brits' dreams will come true next week when Amazon starts selling the international version of its Kindle e-book reader to UK consumers.
The device -- which enables you to download and store up to 1,500 books to read on its paper-like screen -- will go on sale in 100 new countries on 19 October. However, it does appear that it won't come with a web browser, unlike the US version.
Of some consolation to British tech-lovers frustrated by the two-year delay is Kindle now costs much less than on its 2007 debut, despite being upgraded in the meantime. Kindle cost $399 when it launched; we'll pay $249.
That said, the pound was a lot stronger against the dollar a couple of years ago, eroding some of the savings. You'll pay import tax on your Kindle, too, which is shipped from States. Expect to pay around £200 in total, depending on the exchange rate on the day.
You'll also buy your e-books from Amazon's US site. 250,000 are available for UK purchasers, as well as magazines and newspapers. Books cost $9.99 each.
A UK-centric Kindle experience is promised for the future, but there's no date yet.
Born in the USA
I won't go into the pros and cons of Kindle versus other e-book devices likes the Sony Reader. There's plenty of debate online, as befits a fast-evolving technology that could disrupt an entire industry.
A more pertinent question is what does the e-book battle mean for our investments?
In terms of UK shares over the short-term, nothing much. The big players are US-listed -- Amazon, Apple, Google, Barnes & Noble -- or else Japanese and South East Asian.
True, Kindle uses a CPU from UK chip designer ARM Holdings (LSE: ARM), but then what doesn't? ARM chips are shipped in hundreds of millions of mobile devices already, whereas Amazon has only sold around a million Kindles in two years. For ARM, the international Kindle launch won't be transformative.
Kindle is a reminder of how blessed US investors are, with their many technology leaders and consumer brands to choose from. Just as you'll get your Kindle from America, to take a position on the e-book battle you'll need to be buy US shares, too.
But I don't think most investors need to pick one tech share over another right now.
Kindle -- divorced from the desktop PC and connected to the Internet via 3G -- is yet another harbinger of the 'cloud' computing revolution that could fuel a new tech boom.
Despite a good run recently, many US tech giants still seem only fairly priced at best, and boast bags of cash. The whole sector looks ready for a new multi-year cycle that could take it from undervalued to over-priced once more.
If you agree, then buying shares in a technology investment trust like the Polar Capital Technology Trust (LSE: PCT) is an easy way to back the field.
Not so dusty booksellers
What Amazon and Kindle might do for the publishing industry though is as interesting as the tech play. Amazon is successfully charging consumers for electronic words -- the Holy Grail for publishers since the dotcom days.
Demographics helps Amazon and its e-book rivals -- the average person who still buys and reads books is surely more old-fashioned than your typical file-sharing teen from the Skins casting couch. These e-books aren't being pirated in huge numbers yet -- readers aren't swapping Mills and Boon romances via dodgy offshore websites.
Since older people haven't heard that everything is meant to be free, it's possible that by embracing e-book readers early, book publishers may bypass the fate suffered by the record companies as they dithered over Napster and iTunes.
US bookstore behemoth Barnes & Noble revealed its e-book online shop in summer, and it's pretty clear where it thinks the business is going. Physical book sales at its stores are forecast to decline 2 to 4 per cent in 2010.
The company hasn't yet officially announced its own e-book reader, though rumours are rife. Currently its e-books are readable on third-party devices like PCs, Blackberries and iPhones -- but not Kindle.
Amazon is making its e-book store compatible with more devices, too, and there's also the likelihood of Apple ramping up e-book sales on iTunes in tandem with a widely-expected tablet computer launch.
The price of things to come?
This trend towards digital media of all sorts is clearly a threat to the likes of Waterstones' owner HMV (LSE: HMV) and even to distributors like Smiths News (LSE: NWS) and Fool board favourite MBL Group (LSE: MUBL).
We won't all stop buying books tomorrow due to Kindle and its rivals -- CDs and DVDs haven't vanished yet -- but the long-term story is getting worse.
Much has also been made of Kindle's potential as a magazine and newspaper reader, and any Apple tablet waiting in the wings could really stir things up here.
A superbly usable newspaper reader at a mass-market price couldn't come soon enough for Rupert Murdoch, who recently announced he will charge for digital access across the News International portfolio.
Whether the start made with e-books will help old media fight back against the falling advertising revenues that have crippled the likes of UK newspaper publisher Trinity Mirror (LSE: TNI) remain to be seen.
But these are definitely exciting times -- read all about it!
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