Amazon failed to meet the expectations of traders this week, announcing that its fourth quarter profits declined 57 per cent. While its shares dropped 8.8 per cent on the announcement, it put the numbers down to a wave of mass expansion.
The online retailer announced that its profits had slumped, making just £112.4 million in net income, but sales of its Kindle range were looking more than rosy.
Total sales from the company rose 55 per cent but when it comes to the Amazon Kindle its numbers were up 177 per cent year on year to £11 billion.
The Kindle was once again the most popular product sold through Amazon, with twice as many sold as in 2010.
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