The Amazon Kindle is shaping up to be the holiday season's hot commodity.
The Seattle-based online retailer announced Thursday that customers have been purchasing Kindle products at the rate of more than one million a week for the past three weeks, with its Kindle Fire the best selling product on its Web site since the product was released in late September.
Kindle Fire is the most successful product we've ever launched -- it's the bestselling product across all of Amazon for 11 straight weeks, we've already sold millions of units, and we're building millions more to meet the high demand, Dave Limp, Vice President of Amazon Kindle, said in a statement.
Robust sales of the Fire have put significant pressure on Amazon's rival Apple. The Fire costs $199, while Apple's iPad 2 costs $499. However, Apple sales haven't been lagging -- the Cupertino, Calif.-based company announced daily sales records for Black Friday and Cyber Monday.
However, Fire sales won't boost Amazon's profits immediately. Many analysts predict the corporation is losing as much as $50 on each Kindle sold, but the company will look to gain lost profits through content sales.
The traditional Kindle costs $79, the Kindle Touch costs $99 and the Kindle Touch 3G costs $199. The company hasn't released sales figures for each individual product.
Shares of Amazon are up 0.59 percent to $182.06 in early afternoon trading.