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They just sold 600,000+ of them on the first day... I wouldn't say it's a failure just yet... just give it some time...
I'm planning to get one on the future to try and bypass those expensive college textbooks (and iPad has access to iBooks, Kindle and B&N ebooks store, which the current ereaders lack at the moment as they are locked to one store and a color display)... and other stuff.
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