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Wal-Mart pulls Amazon Kindles from shelves in favor of Apple products like the iPad.
Wal-Mart is pulling Amazon Kindle tablets and e-readers from its shelves, in favor of Apple products like the iPad.
Reuters reported the world's largest retailer is following Target’s lead and sees Amazon.com "as a competitor," but Kindles weren't making enough of a profit margin to keep in stores.
“When Wal-Mart sells a Kindle, they’re effectively putting in their customers’ laps a cash register for competitors,” Scott Tilghman, an analyst at Caris & Co, told Bloomberg Businessweek.
Target stopped selling Kindles this past spring, while Best Buy and RadioShack are still stocking them, Reuters reported.
According to Bloomberg Businessweek, the markets didn't like the news. Amazon shares tell 0.6 percent to $260.12 in mid-afternoon trading.
Amazon recently unveiled a new line of more sophisticated Kindle e-readers and tablets, hoping to capture more consumers in this increasingly competitive market.