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Kobo eReader goes European

Amazon’s Kindle may have a leadership position right now in electronic reading devices and digital books, but this is a hot market and is getter more competitive. Toronto-based Kobo is turning a new page in its history, announcing a whopping $50 million investment from Fidelity and existing investors. Today at the London Book Fair, Canadian based e-reader giant Kobo announced that they will be tailoring their Kobo eBook Store towards selected European markets.

The foray by Kobo into the European market is not just launching a new eBook store, but also localized versions of its Kobo Wireless e-reader. This will insure that books downloaded will automatically be translated to your home language. The company now boasts 2.3 million eBooks, newspapers and magazines in its digital storefront, with more than one million users of the offering added in the past three months.