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I used to work in marketing for a publisher (non-fiction) and "in print" generally meant those books who've been printed and dispatched to retail outlets or warehoused for online sales.
It's not necessarily an impressive statistic from a first print-run - "2,000 copies in print" etc. I guess it shows longevity, in that the book is continually reprinted by popular demand.
As for ebooks, I'm not entirely sure how statistics would be shown. Perhaps publishers will incorporate ebook sales or downloads as 'in print' when they boast about print-versions of their books?
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