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First generation eInk screens, such as that used by the Sony PRS-500, certainly did fade somewhat over time - there were many reports about it here around 2006 and 2007. However, they seemed to fade to a certain level and then stabilize at that level.
I've not seen any reports of permanent fading in 2nd generation (Vizplex) screens, which almost all current eInk devices use, and obviously 3rd generation (Pearl) screens are too new for anyone to know whether this effect exists or not.
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