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I've had two replacement Kindles and both were refurbished. I know that because they told me. I couldn't have told it from the Kindle. They were identical to the new ones.
I've also bought a couple of refurbished Kindles. They don't give much off on them. I think one was $20 cheaper and the other one was during a sale so it was a little cheaper than that. Both came with 1 year warranties just like the new ones.
I think for Kindles "refurbished" means something a little different than it does for other things.
Barry
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