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Amazon Panics and Slashes Price of the Kindle

It would seem Amazon was feeling a little threatened by Barnes and Noble's decision to cut the price of its ereader to $199, down from $249. Less than a day after the major book chain made its announcement, Amazon announced a Kindle price cut and shaved $70 off the previously $249 ereader. Now priced at $189, the Kindle is now the cheaper of the two.

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These are both pretty significant price drops and it look like the ereader market is finally moving toward a price point that better fits the function of the device. The gadget world is on the cusp of a tablet revolution and netbooks are getting cheaper every day; a $249 device to read books must seem like an unnecessary luxury for a lot of people these days.

Are you more likely to consider an ereader now that the prices have dropped?