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Nate posted a side by side of the Kobo H2O and the Kobo One, while the Kobo One is certainly bigger, it isn't by the same percentage as the screens are to each other. Kobo listened to those who wanted both smaller bezels and a larger screen. The result is that some of the room for the larger screen came from the bezel and some from increasing the physical footprint of the Kobo One.
I'm sure percentages can be figured out but the side by side made me feel as though I could comfortably hold the One as I do my H2O
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