Kindle 2 Drops To $299, Competition Looming

For many, $359 is just too much to pay for an e-book reader. Even if that does include unlimited Sprint connectivity to download new titles practically anywhere. To that end, Amazon has whacked a full $60 off of the price of its Kindle 2 just half a year after it was first introduced in New York City. The price drop could be significant, as it lowers the entry price to $299 -- just a dollar under that "magical" $300 mark.

If you'll recall, Amazon had no problem selling through stock of its original Kindle, but really, it was a first of its kind. Now, the e-reader is somewhat more commonplace, and the economy definitely isn't conducive for sales of luxury items such as these. What's most interesting, however, is what this could signal: a spike in heated competition. We've already heard of a number of competitors gearing up to launch e-readers of their own, and we're talking about big players in the industry.

Could the $299 Kindle 2 be the first major drop in an impending e-reader price war? As consumers, we'd love nothing more. To us, e-readers are still grossly overpriced for most, and mass adoption won't happen until they sink below the $100 mark. We may still be a few years out from that happening, but we seem to be a lot closer today than yesterday.