It is rather strange that Sharp’s President Mikio Katayama has touted their upcoming e-reader to be a rival for the Apple iPad – considering the iPad isn’t even a dedicated e-reader in the first place, but rather more of a tablet. This is one interesting boast that we hope will not end up as just hot air since the consumers will win in the end. According to Sharp, this new product is being prepared to hit the market before the year is over and it remains to be seen whether it will make it in time before the frenzied holiday shopping season begins. We do know that their e-book reader will utilize a color LCD display while using a new file format for e-books known as XMDF. XMDF is a new development where it will utilize video and music alongside basic text for added oomph. There are even whispers going around that 3D capability on this e-book reader might be a possibility – nothing strange about that considering Sharp is behind the Nintendo 3DS display.