Amazon's Kindle Selling Like Hot Cakes

The online retailer is struggling to keep up with demand for its new e-book
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Updated from 12:25 p.m. EDT

The latest version of the

Kindle

e-book has been flying off the virtual shelves at

Amazon

(AMZN) - Get Report

, selling out just days after hitting the market last week.

Touted as the

savior

of the ailing publishing industry, the Kindle DX sold out just three days after becoming available on June 10th, according to media reports. Initially, a note on the Amazon website said that the device would be in stock again on June 17th, in time for Father's Day. Earlier today, however, this was changed to June 22nd, suggesting that the online retailer has been deluged with a flood of orders.

Capable of storing up to 3,500 books, the Kindle DX has a larger screen than the earlier version of the technology, but, at $489, is also more expensive. The standard Kindle, with its 6-inch screen, is in stock at Amazon for $359.

Despite some rumblings of

discontent

about the Kindle DX's price tag, consumers are clearly warming to the device's 9.7 inch screen and its keyboard, which is used to annotate books. Other new features of the Kindle DX include a built-in PDF reader, and "auto-rotation", enabling readers to view content in either portrait or landscape mode, simply by flipping the device.

Amazon's stock has

grown steadily

this year, and the Kindle DX could become a key weapon in its battle with online retail giants

eBay

(EBAY) - Get Report

and

Wal-mart

(WMT) - Get Report

.

Other companies playing in the e-book space include

Sony

(SNE) - Get Report

and startup

Plastic Logic, which are both pushing their own versions of the technology.

Amazon has not yet responded to

TheStreet.com

's request to find out how many Kindle DXs have actually been sold since last week, and there has even been

speculation

that the firm may be carefully controlling supply to create a buzz around the technology.

The retailer, which offers more than 275,000 titles in e-book format, recently said that 35% of its book sales are via the Kindle platform.

Shares of Amazon, which recently paid

Toys R Us

$51 million to

settle

a long-running legal dispute, dipped $1, or 1.2%, to $82.18 Tuesday, while the Nasdaq fell 0.8%.