The Amazon Kindle is their number one selling product of all time, and its third generation Kindle model has managed to become a force to be reckoned with in this competitive market.  While the Kindle seems to be the preferred ereader for around 47% of the ebook reading market (figures reflect data through the end of November 2010), strong contenders such as the iPad and Nook Color are right on their heels.  To retain a competitive edge, developers are constantly look for ways to keep the Kindle ahead of the game, or close to it, and we think their ebook lending update can only improve their position.

The Kindle book lending feature allows Kindle users to trade books with other Kindle users at no charge.  The savvy feature, which puts the Kindle in a little more of a competitive position with the Nook Color’s LendMe Technology, allows books to be lent out for a 14 day period. The feature does, however, come with a few limitations other than the 14 day deadline.  For example, you can only loan any book out once during its lifetime on your digital shelves, and the owner of the book cannot read it while it is lent out.  Only books deemed ‘eligible’ by Amazon are able to be lent out or borrowed.

Users can send an invitation to friends and family through the ‘Manage Your Kindle’ page on Amazon, or from the product page itself.  You simply enter the recipient’s email address and go from there.  The person whom you have invited to borrow your book has 7 days to accept the invitation.  Should they not respond, the book is then returned to you and does not count against your one change at loaning that book out.  Books can be traded among Kindle users on any supported device and not only the Kindle ereader itself.

Learn more about what all the fuss is about in the Amazon Kindle Store.