Today is the day that Oprah Winfrey will announce her new favorite gadget. During the October 24th show, the talk show host will tell everyone why she owns a Kindle.

The queen of talk shows has been hyping her October 24th show as the day she will announce her favorite gadget. It has already been confirmed ahead of the show that Oprah will be referring to the Amazon-produced electronic book reader.

Videos of her describing the device as "life changing," have been posted on her show's website as well as on the front page of Amazon's website. Oprah will be discussing the impact of the gadget on her life with none other than Amazon founder and CEO Jeff Bezos.

Needless to say, if Oprah, who proved her ability to propel books to the top of bestseller lists as the leader of the world's largest book club, will embrace Kindle, sales for the device are expected to rise steeply, especially with the holiday season rapidly approaching.

A portable device, the electronic book reader is the size of a paperback and can store more than 200 volumes that are being displayed using electronic ink. The Kindle can deliver all reading materials independently, without the use of a computer or cables. Another main attraction of the device is the ease with which it can be used to buy books and other content. The company is not set to launch a new version of the product until next year at the earliest.

Although Amazon has been downplaying the Kindle’s success and refused to confirm any sales estimates, the Kindle has a high potential of becoming the iPod of the book world, with nearly 380,000 devices sold this year, Mark Mahaney, an analyst with Citigroup, said.

Speaking about Kindle's impact on regular book sales, Bezos denied on Amazon’s third-quarter conference call on Wednesday that digital books were having a cannibalistic effect on regular book sales, calling the Kindle books units additive to physical book units.

"When somebody buys a Kindle and the period after, they buy 1.6 times as many Kindle books as they bought physical books prior to buying a Kindle, and they continue to buy the same number of physical books. So that’s what we have seen so far and it’s obviously a very positive outcome. We hope that continues," he said.