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The issue is somewhat a technical one. When e-readers first came out, the computer horsepower available within the power limitations made them relatively slow. But it is now 5-6 years later and those trade offs don't have to be made so much in hardware.
The real limitations are standards that did not really address text and Adobe having the firmware market to themselves producing software at a glacial rate. Some fracturing of the market was inevitable, but Adobe has the biggest share of blame.
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