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Bad replacement battery or shot charging circuit as a fully charged lithium ion battery should read 4.2 volts. 3.7 volts is basically discharged. A lot of the batteries for older Kindles offered on ebay are old stock even if never used and are beyond their shelf life. The K3 or Kindle Keyboard is now about 10 years old. I am not sure if anyone offers newly manufactured batteries for older model Kindle readers.
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