From The Nation:
After online shopping, internet-based finance, mobile payments and bicycle-sharing, the digital dimension in China is taking in its sweep the world of books.
The publishing industry has gone digital in a big way, spawning a market comprising 300 million users of mobile devices who read electronic books in China.
The market, which has two key sections in hardware (reading devices) and software (e-books), reached about 12 billion yuan ($1.7 billion) in sales last year, up 25 percent year-on-year, according to a report by the China Audio-Video and Digital Publishing Association.
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With nearly an 8 percent share of the global market, China now trails only North America, the largest market for e-book readers in 2016 with a 68 percent share, and Europe (almost 14 percent share), according to market consultancy QYResearch.
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Just like in North America, where the e-book reader device market is dominated by manufacturers such as Amazon, Kobo and PocketBook (which account for a collective 75 percent of the market share), the e-reader market in China has a few big names.
Amazon with its Kindle range of devices is the common leader in both markets, but it is followed by iReader and newcomers such as e-commerce giant JD in China.
As the e-book reader pioneer, Amazon.com has created an ecosystem comprising users, digital versions of printed books, e-book stores online and e-book readers. Amazon said the China market is important for it.
Last month, it announced a strategic partnership with Migu Culture and Technology Group Co, a subsidiary of China Mobile Communications Corp, and also launched a feature-rich Kindle created exclusively for Chinese readers.
The device presents more than 460,000 Kindle e-books and over 400,000 online literature titles from Migu, one of the largest online literature platforms in China.
The made-for-China Kindle X Migu device retails for 658 yuan. “China has become the largest market in the world for Kindle and enjoys a very strong growth momentum,” said Bruce Aitken, vice-president of Amazon China and general manager of Amazon Reading.
He said Chinese book-lovers are increasingly switching over to digital reading devices, and are willing to pay for e-books. This makes Amazon bullish on the future prospects of the digital publishing industry in China.
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“We find Chinese users refer to the dictionary a lot. Especially their use of the English dictionary is higher than in any other countries, so we specifically designed a function of tips about new words, and provide English-to-Chinese/English definition automatically for Chinese readers,” Aitken said.
Amazon, he said, will launch more new functions over the next year.
Compared with printed books, the cost of e-books is very low. In fact, some of the e-books are free of charge or cost just a few dollars.
For instance, the printed version of The Shortest History of Europe, one of the top five bestsellers in 2016, is priced 25 yuan, while its e-book version retails for only 2.99 yuan.
Link to the rest at The Nation