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The CPU is doing a lot of stuff other than rendering the text.
A faster CPU will help. Especially for Kobo's. Things like selecting text, processing new books, even page rendering.
And considering that the rest of the commercially available technology in ereader land is either stagnant or at the limits of goodness (screen resolution for instance), a faster CPU is a natural marketing point for this year's models. Especially since it looks like the iMX7 costs roughly the same as the iMX6 (or is at least in the same ballpark).
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