Amazon's New Kindle: Nice but Still Pricey

Amazon's(AMZN Quote) press release says everything you need to know about its brand-new Kindle2 portable electronic book-reading device. As a matter of fact, it's all said in the first paragraph:

"Amazon.com, Inc. today introduced Amazon Kindle 2, the new reading device that offers Kindle's revolutionary wireless delivery of content in a new slim design with longer battery life, faster page turns, over seven times more storage, sharper images, and a new read-to-me feature. Kindle 2 is purpose-built for reading with a high-resolution 6-inch electronic paper display that looks and reads like real paper, which lets users read for hours without the eyestrain caused by reading on a backlit display. More than 230,000 books are now available in the Kindle Store, including 103 of 110 current New York Times Best Sellers and New Releases, which are typically $9.99. Top U.S. and international magazines and newspapers plus more than 1,200 different blogs are also available. Kindle 2 is available for pre-order starting today for $359 at and will ship February 24."

(Photo gallery: The Kindle2 ) Monday's big rollout of the new device in midtown Manhattan was strangely emotionless. From Amazon boss Jeff Bezos (who rarely smiled or seemed excited during the presentation) to renowned author Stephen King (who has written a new short story for the new device) to any of the other Amazon officials on hand -- the introduction of the Kindle2 was underplayed to the max.

Amazon Kindle2 Introduction

I wonder why? Amazon says the original Kindle has been a very successful seller. The company won't say how many it's already sold but you can surmise that they're selling well if there's a second-generation model. In addition to selling devices, they're also selling online books. Sort of like what Apple (AAPL Quote) does with iPods and the iTunes Store except that Amazon downloads files, via a built-in 3G modem, directly to their device not needing the use of a personal computer.