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Right, those are certainly advantages over a tablet, and might add some weight for avid readers, but even among those color is not a must-have feature. I can only think of color being useful on comics and magazines, and these two are probably better served by a tablet, as you can zoom and scroll with fluidity, something you can't do on these reflective displays.
This might find a niche in wearable devices (like smartwatches), but I don't see this flourishing in the ebook reader market.
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