The reading of literature is integral to the study of a language. Electronic books, as read on mobile devices, have become increasingly popular. The purpose of this study was to explore how these devices can be used effectively by EFL students, with a focus on reading comprehension. 100 university and high school level students read three stories over 2.5 months. One group of students read from mobile devices, while another group read from conventional books. One pre-test and two post-tests were given to see their performance and retention of the stories. Students using mobile devices were also given a questionnaire and an interview to note their opinions regarding mobile devices as well as conventional methods of reading. The results showed that students with mobile devices are able to achieve a higher score. The questionnaire results, however, found that most students are quite conservative in their attitudes towards reading, indicating that they prefer to read from conventional books and expect future reading will continue to be done in this way. The study concludes that while the technology for reading e-books is demonstrably effective, students’ attitudes towards their use will need to change before wide adoption can take place.