Yesterday Apple announced that it sold its three millionth iPad, just 80 days after its introduction in the US. Just as the news came out Amazon.com slashed the price of the Kindle by $70 to $189 and Barnes & Noble reduced the price of the Nook by $60 to $199 and said it would also start selling a new Nook with Wi-Fi access for $149. Mean while Borders book store announced that it will introduce its own e-reader called called Kobo in July for $149. Do any of these other vendors stand a chance?

Some of the devices don’t even have Wi-Fi access like the Nook and others like the Kobo can only access the Borders online store. Also, to the best of my knowledge all of them have black and white LCD screens unlike the iPad.

While they figure out how to add Wi-Fi, color screens and more content partners – which will push their prices up, Apple is working on the next version of the iPad and the first generation iPad might sell for even less than competing products. It happened with the iPhone and iPod. In fact Steve Jobs, Apple’s CEO said, “We’re working hard to get this magical product into the hands of even more people around the world”. I don’t know of anyone that uses a music player other than the iPod today do you?