Amazon quietly reduced the price of its Kindle 2 by $60.

Why the drastic drop in price?

Well some says that indicates the e-Book reader market just got competitive and Amazon is safeguarding their own interest and sales by the slash in price.

The Kindle 2, was released last February, which boasts a longer battery life and better display than its predecessor.

It also has a sleeker design with a slimmed-down body.

Many believe this price reduction is for the long-haul, so if you want to get the Kindle 2 now, it doesn’t matter if you get it now or 6 months down the road.

With a 17 per cent cost drop from $359 to $299, its worth the plunge to buy it.