THE world’s largest online retailer, Amazon, has revealed it sells more ebooks, through its Kindle Book Store, than it does paperbacks.

This year, the company expects to sell more than eight million portable e-book devices.

In the final quarter of last year, for every 100 paperbacks the company shifted, it sold 115 Kindle books.

Quarterly revenues shot past £6.3bn for the first time, however, a price war with high street shops meant Amazon’s margins suffered.

Profits stood at just over three per cent of sales of £8.1bn, at £261m, disappointing investors.