Amazon's third-generation Kindle proved to be the catalyst pushing the e-tailer to its first $10 billion quarter ($12.95 billion, to be exact) in Q4, while noting that sales were up a healthy 36 percent, the company announced on Thursday.
"Thanks to our customers, we achieved two big milestones," said Jeff Bezos, found and CEO of Amazon.com. "We had our first $10 billion quarter, and after selling millions of third-generation Kindles with the new Pearl e-ink display during the quarter, Kindle books have now overtaken paperback books as the most popular format on Amazon.com."
Overall it was a killer year for Amazon, which reported a net sales increase of 40 percent to $34.20 billion, compared with $24.51 billion in 2009. The Kindle platform is the big reason why, and the U.S. Kindle Store now has more than 810,000 books to choose from. Over 670,000 of them are $10 or less, Amazon says.