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kindlefirehdAmazon is notorious for being coy about its Kindle sales numbers, but a new report released last week says that the company’s e-readers are a multi-billion dollar business for the company.

According to a post by AllThingsD, Morgan Stanley Research has projected that Amazon will make $4.5 billion this year on sales of its e-reader tablets, an increase of 26 percent from 2012.

Morgan Stanley projects that growth will slow in 2014 and 2015, bringing in revenues of $5 billion and $5.5 billion respectively.

This comes after IDC released data last week that showed Kindle Fire sales down in Q2, in part owing to the importance of holidays when it comes to selling Kindles.

Amazon recently dropped the price on the Kindle Fire to $159 for a “limited time,” possibly in preparation for the launch of a new Kindle Fire model.

Previously on GeekWire: Amazon drops Kindle Fire HD to $159 for ‘limited time’Fruitcake, anyone? Amazon’s Kindle Fire slips out of Top 5, showing extreme seasonality

 

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