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The first generation of electronic readers had little more than black-and-white text. The second generation had black-and-white text, simple graphics and Web connectivity. Glimpses of the third generation are on display this week at the International Consumer Electronics Show, where manufacturers are previewing e-readers with color screens, interactive graphics and magazine-style layouts.

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Microsoft CEO Steve Ballmer opened up the largest consumer technology trade show in the world with a tone that was both reflective and energized, but without living up to much -- if any -- of the anticipation that preceded the speech.