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With the illumination on and at the usual reading distance I find it hard to find significant differences with a monochrome e-reader. Only extremely demanding users (and in this forum there seem to be quite a few) are going to notice that loss of contrast. I have monochrome e-readers with the best screens on the market and I prefer to read on my colour e-reader. While some will be disappointed, others will be pleasantly surprised. In my opinion it is worth giving colour e-readers a chance and let each user decide individually whether they are useful or not. And those who prefer a monochrome e-reader will continue to have that option.
Battery life depends on the characteristics of each individual device and how it is used. A Kobo Sage or a Kindle Oasis have a significantly shorter battery life than an Onyx Boox Tab Mini C. I imagine that Kobo will include a higher capacity battery in their colour e-readers.
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