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I am very unhappy with the fact that ePub support seems to delay folder support
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Me too, but it seems that Bookeen seems to consider epub support to be a much more critical and vital feature than folder support.
Which makes sense since there is a current demand for eBooks in epub-format, and if Bookeen can't supply an epub-Reader, they will lose ground.
Take libri.de for example: It has been supporting Mobipocket prc for years - they still do today -, but if you look at the ebooks submenu on their site, it's "epub" right now which occupies most of the space, with "prc" stashed below.
beam-ebooks.de, one of the biggest "eBooks only"-shops in Germany uses prc as its main format, but even they started adding titles in epub.
This Bookeen has to take seriously into consideration. I don't know what the development or changes look like in other European countries. Would be interesting if epub is also strong on the increase there.