E-reader Market Strategies:A comparative study of the Sony Reader and the Amazon Kindle

Student ID: 7668712

BMAN71662

Innovation and Market Strategy

MSc Innovation Management and Entrepreneurship

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Table of Contents

1. Introduction..........................................- 1 -

2. The Electronic Book...................................- 2 -

3. The Rise of the E-readers.............................- 4 -

4. Sony, the First Mover.................................- 6 -

5. Here Comes the Kindle.................................- 8 -

6. Success and Failure..................................- 10 -

6.1. Technological Innovation and Performance..........- 10 -

6.2. Financial Measures................................- 12 -

6.3. Market Strategy...................................- 13 -

7. The Future...........................................- 14 -

8. Conclusion...........................................- 15 -

9. References...........................................- 16 -

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1.Introduction

The last two decades have witnessed printed book reading wane

with the digital revolution. Despite its far-reaching effects

on culture and human society, the printed book has been

predicted to be obsolete by the early 21st century (Kurzweil

1992). However, this has not been so. Newspapers, journals,

fiction and even textbooks delivered in electronic/digital

format have become common place with over 40 per cent of

Americans reading digital content (Raine et al 2012; Thompson

2010). Thanks to rapidly advancing and well-designed

technology, readers favour digital prints to paperbacks (Coyle

2008). In July 2010, Amazon reported that the sales of its

electronic books had surpassed its printed selections after

only 4 years of introducing the e-books (Amazon.com 2011).

The internet and new technological devices has transformed the

way we read and access the written word. Particularly,

electronic books and electronic book readers have

revolutionised the reading habits of ordinary people.

Initially, e-books and e-readers were forecasted to fail

(Dougherty 2010). However by 2014, e-book sales are greater

than ever before at $3 billion and 3 out of 10 Americans own

an electronic reading device (Pressman 2014). Since the launch

of the Amazon Kindle in 2007, e-reading has become

particularly popular but Amazon was essentially a fast

follower in the e-reader market (Coyle 2008). The Sony

Corporation was the first mover with the release of the Data

Discman in 1992 (Coburn et al 2001). Even with over a decade1

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in the e-reader market, Sony failed to captivate avid readers

or technology enthusiasts. Over the years, the Sony

Corporation have launched and marketed over ten additional e-

readers; none of which have been as successful as the Amazon

Kindle. Sony, a leading manufacturer in consumer electronics

has been outdone by an online retail specialist at every turn

in the e-reader market. This report seeks to analyse and

compare the reasons and strategies behind Amazon’s success and

Sony’s failure.

The remainder of this report is organised as follows. The

first section will provide an account of the electronic books

and electronic readers. The next section will discuss the

rival e-reader manufacturers with a detailed description of

their products. Following, there will be an examination of

different criteria for establishing the success or failure of

the devices and strategies put forward by Sony and Amazon.

Finally, there will be a discussion on the future the

electronic books and electronic readers.  

2.The Electronic Book

“An electronic book is a text that has its structure rendered

in a digital file” (Coyle 2008: 161). E-books like

traditional prints have chapters and page numbers to navigate

the text. The first electronic book was invented in 1971 by

Michael Hart (Flood 2011). However it wasn’t until the late

1990s that the electronic book market took on the shape we

recognise today (Little 2011). Software companies began to

offer their support for e-books like Adobe with its PDF format2

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and businesses like Amazon began selling e-books in 2006

(Little 2011).

Figure 1. Americans who have read an E-book

Source: Raine et al 2012, Pew Research Center

E-book reading has grown significantly over the years due to

increased content and improved technology (Shin 2011). Figure

1 illustrates the growth of e-book reading and Figure 3 shows

the devices that e-book readers prefer. Then again, a study by

the National Endowment for the Arts (2007) suggested that the

book industry is diminishing and reading technologies are

antagonists to the reading culture. Conversely, Pressman

(2014) stated that while the sale of printed books had

decreased by 8 per cent, the sale of e-books had uplifted the

industry with a jump in sales from barely over $1 million to

$3 billion (see Figure 2). The growth of e-books also

coincides with the growth of the dedicated e-book hardware,

the e-readers (see figure 4) (Thompson 2010).

Figure 2. E-book sales

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Source: Thompson 2010

Figure 3. Where are people reading their E-books?

Source: Zickuhr 2012; Pew Research Center

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3.The Rise of the E-readers

E-readers have been around for over two decades since the

release of the Sony Data Discman in1992 (Coburn et al 2001).

However, the Discman failed in the market because not only was

the display technology poor, it was too heavy and too

expensive at over $500 (Mumenthaler 2010; Coburn et al 2001).

Other e-readers like the Rocketbook and the Softbook entered

the market but all first generation e-readers were also

unsuccessful for a number of reasons;

1. Limited availability of e-book content

2. Expensive e-books

3. Unreliable e-book distribution methods

4. Expensive, heavy devices

5. Poor display technologies (Coburn et al 2001; Mumenthaler

2010; McCarthy 2007).

Following the successive failures of first generation e-

readers, the devices were expected to disappear from the

market (Dougherty 2010). However, the advent of the state-of-

the-art E-ink technology transformed and significantly

improved the quality of the reading devices (Eink 2004). E-ink

offered higher screen resolution than the former LCD. It was

also bistable which means it not only improved the display of

text and images but it also consumed less power (Coburn et al

2001). Both Sony and Amazon, as well other e-reader firms

released e-readers which adopted the E-ink technology.

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The new generation of e-readers offer large convenient

storage, portability and a reading experience that resembles

the traditional printed book (Anton et al 2013). The devices

which were expected to fail have proven otherwise. With

significantly reduced device and e-book prices, more content

availability and better retail distribution, the e-reader has

been given a new lease of life (Dougherty 2010). The number of

readers buying the devices has grown, though slowly (see

figure 4).

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Figure 4. E-reader ownership in America

Source: Raine etal 2012,Pew ResearchCenter

7

2009 2010 2011 201202468

101214161820

3%4%

10%

19%

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4.Sony, the First Mover

The Sony Corporation is a leading manufacturer in electronic

products for consumers ranging from televisions to e-readers.

The first e-reader device, the Data Discman was developed and

marketed by Sony (Mumenthaler 2010). As the first occupant in

this new market segment, Sony had the opportunity to gain

superior profits, brand awareness and technological leadership

(Lieberman and Montgomery 1988). If the Discman was

successful, the device could have set the standard measures

for other e-readers to follow. Following the introduction of

the E-ink technology, Sony launched the Librie in Japan as the

first e-reader to adopt the state-of-the-art technology (Eink

2004). Though the Librie had a much better display and longer

battery life than the Discman, sales of the device were slow

due to lack of reasonable e-book content (Lytle 2004;

Mumenthaler 2010).

The second generation of e-readers developed by Sony went

through a complete transformation. The Sony reader PRS-500 was

launched in the US in 2006 at a price of $350 (Greenfield

2014). The device had a 6-inch screen, weighed 250g and could

carry 64MB worth of e-books with the possibility of inserting

a memory SD card for additional memory capacity (Sony 2014).

The e-reader supported the majority of e-book formats from

ePUB to PDF to TXT and many others. It operated on software

designed by Sony called the Sony Reader Library or previously

Sony Connect (Sony 2014). Despsite the inexpensive and

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improved technology, the device did not catch on. As an

electronics expert, Sony focused too much of its attention on

the hardware and not the total consumer reading experience.

The name of the device did not attract consumers and the e-

book selection from Sony was lacking (Greenfield 2014). Not

long into its life cycle, the PRS-500 was discontinued after

only a year on the market.

Sony has made several attempts to capture the e-reader market

with several devices, all of which have been discontinued

within a year even before the product reaches the maturity

stage of its life cycle. Figure 5 shows a timeline of all the

e-readers developed and marketed by Sony. Each upgrade

improved on the shortcomings of its predecessor in areas of

price, storage capacity, lighting, battery life, weight etc.

Nevertheless, none of Sony’s e-readers have been as successful

as the Kindle by Amazon.

Figure 5. Sony E-reader Timeline

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5.Here Comes the Kindle

Jeff Bezos, CEO of retail giant Amazon developed the Kindle

with the hopes of doing better in areas where others like Sony

had failed (McCarthy 2007). As a fast follower, Amazon

benefited from learning off the failures of other e-readers;

this is known as the ‘free-rider effect’ (Lieberman and

Montgomery 1988). The Kindle was launched in 2007 and sold out

in less than six hours (Miller and Greenberg 2009). With its 6

inch screen, 250 MB storage capacity and speaker/headphone

jack for audio files, this e-reader was well received by the

market. The product technology, e-book distribution, delivery

system, marketing strategies and the entire e-reader eco-

system had been carefully planned out (Adner 2012). As a

result of the Kindle launch, the sales of e-books double

between 2007 and 2008 (see figure 2). The Kindle is not the

first e-reader device nor is it the best hardware but it is

definitely the most successful electronic reading device.

The e-reader provided an unforgettable experience for all

users and even publishers. Amazon provided a solution to the

digital rights management (DRM) issue and offered publishers a

percentage of the prices of their books (Adner 2012). In order

to provide a seamless service for the user, the device was

linked to the Amazon store which carried thousands of book

titles which cost $9.99 or less (Miller and Greenberg 2009).

The Kindle is fitted with 3G and WiFi capabilities for quick

and easy access to the store. It also adopted the e-ink

technology which makes the screen display flawless providing a10

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superior reading experience in any lighting condition

(Kirkpatrick 2007). Despite all the added functions and sleek

design, the e-reader was reasonably priced at $399 and weighed

less than a paperback at 10.3 ounces (McCarthy 2007;

Mumenthaler 2010). Since the debut of the first generation

Kindle, retail giant Amazon, has successfully launched several

upgrades of e-readers. Figure 6 shows the timeline and

provides little details on the other e-readers. Amazon has

gone further by entering into the tablet market with its

Kindle Fire, HD and HDX which can carry thousands of e-books

and other applications.

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Figure 6. Kindle E-reader Timeline

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6.Success and Failure

Amazon and Sony have both developed and marketed some

particularly innovative e-reading devices. Their measure of

success or failure is relative as it depends on who is judging

and the criterion that is being used for evaluation. The table

in figure 8 provides a list of measures of success and failure

including a brief comparison and analysis on the innovations

put forward by Sony and Amazon.

6.1. Technological Innovation and Performance

The second generation of e-readers developed by electronics

firm Sony, have been significantly improved in terms of

storage capacity, display technology and battery life. The

Sony PRS-500 in 2006 was launched with a 6 inch display which

adopted the E-ink technology. It weighed the same as a bar of

soap at 250g and could hold 64MB worth of e-books with the

option of adding a memory SD card (Sony 2014). The PRS-500

supported only three e-book formats; ePUB, DRM and PDF and had

to be connected to a computer in order to download e-books

unto the device. At that time, this was quite the innovative

technology. The most recent Sony Reader, the PRS T3 that was

launched in 2013 has a high definition (HD) 6 inch screen and

weighs less at 200g (Sony 2014). The PRS-T3 supports more e-

book formats and can store 2GB of e-books, images and audio.

Fitted with WiFi connectivity, e-books can be downloaded

without connecting to a computer. The battery life of the

device runs for about 6 weeks. As a leading electronics

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manufacturer, Sony had the expertise and resources to create

this high-technology device.

On the other hand, Amazon, the online retail specialist had to

outsource the production of its e-readers. The first

generation Kindle launched in 2007 also had a 6 inch E-ink

display screen. It weighed more than the PRS at 290g and could

also hold 64MB worth of e-books. Access to e-books was

provided via WiFi connectivity so there was no need to connect

the device to a computer. The most recent dedicated e-reader

by Amazon, the Kindle Paperwhite 2 was launched in 2013 using

the high resolution E-ink technology and weighed 206g. The

device can carry 256 MB of e-books and has 3G and WiFi

connectivity capabilities. Overall, in terms of the hardware

and technological performance, the Sony e-readers are superior

to the generations of Kindle. The Sony e-readers weigh less

than the Kindle, turn pages faster and can store more e-books

than most generations of the Kindle.

Figure 8. Criterions for Success and Failure

Criterion for Successor Failure

Sony E-readers Amazon E-readers

Novelty Successful: The first e-reader, the Data Discman was created bySony. The Sony Librie was the first e-readerto adopt the E-ink technology

Successful: the Kindle included 3G + WiFi connectivity to reach the extensive e-book store

TechnologicalPerformance

Successful: Second generation of e-readers perform better

Successful: State-of-the-art display technology, battery life

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than the counterparts lasting over a month, fast software

Price Successful: With everynew upgrade, the priceof the e-readers decreased

Successful: Some of the Kindles are the cheapeste-readers on the market

Sales growth Failure: Every e-reader upgrade has been discontinued for lack of sales

Successful: Kindles havebeen well received by the market

Market Share Failure: All Sony’s e-readers have failed tocapture the avid readers or technology enthusiasts

Successful: the Kindle is the most popular and preferred e-reader

Profits Failure: E-readers have failed to report profits and are being withdrawn from severalmarkets

Amazon sells its devicesat cost price

Longevity Very good e-readers but poor eco-system

Very good e-readers with excellent eco-system that will last.

Robustness against competition

Failure: Sony e-readers have been outdone by the Kindle,Nook and others

Good: There is direct competition but the Kindle provides a superior reading and e-book purchasing experience

Established dominant design

Successful: Led the e-reader development with the hardware design and display technology

Its designs were not used by other companies

Intellectual Property Rights

Failure: Sony was unable to secure the copyrighted content ofthe publishing houses or settle piracy issues with its BBeB format

Successful: Amazon provided solution for the DRM issues by makingits e-books proprietary where the e-books can only be downloaded and read on one device.

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6.2. Financial Measures

In terms of financial measures, the superior device must be

evaluated from different viewpoints.

To the consumer, the cost of the device and its use are most

important. At its launch, the Sony PRS-500 was sold for $350,

the price of each subsequent upgrade of the e-reader reduced

with the PRS-T1 in 2011 being sold for $149 and the PRS-T3

being sold for $129 (Sony 2014). While, the first generation

Kindle was sold for $359, the Kindle Paperwhite cost $199 and

the Kindle Fire HDX cost $379. Taking into account the cost to

the user, the Sony devices are considered better value for

money.

To the firms, the sales revenue or sales growth as well as the

profits are the ideal measure for success and failure.

Unfortunately, the literature on e-reader markets does not

provide a comprehensive account of the sales and revenue of

the devices. As at 2010, Sony was selling 800,000 units (IDC

2011). However, the sales volume was not able to justify

keeping the PRS-950 on the market as the device was

discontinued relatively early into its product life cycle.

Market leader, Amazon was stated to account for 48 per cent of

e-reader market (IDC 2011). This suggests that Amazon is in

fact doing better than Sony despite their top-quality

hardware. This could possibly be due to the specific

strategies adopted by the firms.

Figure 7. E-reader market share

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0102030405060

48%

18.6% 16.9%9.4% 9.2% 11.4%

Source: Raine et al 2012, Pew Internet Research Center and IDC

2011

6.3. Market Strategy

While the Sony Corporation dedicated it electronics expertise

and the necessary resources to developing a high quality

electronic reading device, it failed to extensively consider

the marketing strategy behind its product. In contrast, Amazon

with little or no experience with consumer electronics

considered every aspect of the e-reader market to introduce a

successful product. Amazon applied its ‘everything store’

outlook and existing business model to the e-reader market by

considering every actor and aspect concerning e-readers.

Taking into account that the Kindle was neither the first nor

the best e-reader, Amazon benefited by learning from its

predecessors and saving costs on educating the market on e-

readers (Tidd and Bessant 2013).

With the aim of providing the best possible reading experience

for Kindle users, all devices were fitted with WiFi

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capabilities and 3G connectivity that allowed readers to

download straight from Amazon’s e-book store that holds

thousands of best-selling titles (Amazon.com 2014). Prior to

the launch of the Kindle, Amazon undertook an extensive

marketing campaign, advertising using different mediums.

American talk show host and media personality Oprah Winfrey

even called the Kindle her “new favourite thing” which added

to the ‘buzz’ about the Kindle (Huffington Post 2011). Even

the publishing houses were accounted for; Amazon solved the

DRM issue that Sony was unable to rectify. It went further to

offer publisher a percentage of the sales of their e-book

titles (Adner 2012).

Despite having an e-reader that is not as high quality as the

Sony’s readers, the Amazon Kindle was more successful and

better received. Reasonable pricing, better visibility, e-book

content, intellectual property rights, media buzz and even a

catchy name were all incorporated in the market strategy of

the Kindle (Dougherty 2010). Amazon essentially organised

every agent and aspect of the e-book, e-reader eco-system.

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7.The FutureAfter several devices and technological improvements, the e-

readers have become a significant part of the reading culture.

Although, more and more people are embracing digital content,

the e-readers may be overtaken by the tablet computers. The

tablet is a mobile computer which has e-reader capabilities in

addition to other applications. As e-readers are reaching the

saturation stage on the cycle, consumers are switching to

buying tablets in order to still enjoy reading digital content

and other mobile applications (See figure 9).

Figure 9. E-reader and Tablet Ownership

Source: Rainie and Duggan 2012, Pew Internet Research Center

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8.Conclusion

Many have predicted the death of the printed book and many

have debated over its inferiority to the digital book.

Nevertheless the printed book is still bought in great

quantities by libraries and educational institutions (Little

2011). Technological advances have transformed not only the

reading habits of people but the entire book industry. The e-

books and e-readers that were considered failures have now

been embraced by avid readers and technology enthusiasts.

Leading electronics manufacturer, Sony with its Sony Reader

PRS models successfully developed a high quality device but

failed to put together a market strategy to capture a large

share of the market. In terms of technological innovation and

performance, the Sony e-readers are possibly the best in the

market. However, using other measures such as market share,

profits and brand awareness, it has lost out to the Kindle.

Benefiting from fast follower advantages, Amazon was able to

develop the Kindle close to the high standards of the Sony

reader and successfully capture the e-reader market. Using

media personalities, its bookstore business model, advertising

and seamless customer experiences the Kindle has become the e-

reader of choice. Its catchy name also adds to its appeal

(Dougherty 2010).

While e-book sales are expected to continue growing

significantly, e-readers have once again been predicted to

fail due to the introduction of the tablet computers. The

Tablet as it is known has e-reading application as well as21

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other applications such as photo applications, news, maps and

many other possibilities. This report showed that the number

of American citizens who own a tablet has already surpassed

those that own an e-reader. It is no wonder Amazon has

developed its own line of tablets, the Kindle Fire to retain

its large customer base and attract even more.

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