Word: e-book
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...foray into the digital-book business with its groundbreaking Kindle reader that's been making the biggest headlines lately, as sales far exceeded analysts' expectations. Its decision to allow customers to download best-selling books from its e-bookstore to the Kindle for only $9.99 a pop played a big role in stimulating demand. "When we have both [hardcover and e-book] editions, we sell six Kindle books for every 10 physical books," said Jeff Bezos, founder and chief executive of Amazon, in a statement...
Adding to the iPad threat is a dispute over e-book pricing. Apple signed deals that allow publishers to set the prices in Apple's iBooks store, and new e-book best sellers are expected to be priced at $12.99 to $14.99 - which is considerably higher than Amazon's $9.99 price. Publisher Macmillan is already pressuring Amazon to offer similar pricing. It demanded the right to set prices on Amazon, causing an angry Amazon to pull all of Macmillan's books from its site. However, two days later, amid a firestorm of debate, Amazon indicated that it would agree...
...Analysts worry that higher e-book pricing could eat into demand for Amazon's Kindle. "They're trying to build the iTunes for books with their Kindle, so they're particularly sensitive about market share for books," says Sebastian. (See the 25 best back-to-school gadgets...
...That said, the higher e-book price could actually benefit Amazon's bottom line. "At $9.99, Amazon wasn't making any money," says Hamed Khorsand, an analyst at BWS Financial. "So for Amazon to be forced to sell a product at $12.99, they're basically being allowed to make a profit." If prices continue to escalate higher though, it could be a problem, analysts...
Objectors have raised a dizzying array of criticisms: that the deal would put Google, the author's group and a small number of large publishers in the driver's seat of as-yet undiscovered e-book technology; that foreign authors and publishers weren't included; that the settlement was struck in secret; that many publishers and authors - particularly those in other countries - didn't even know about the case and weren't given enough time to respond once they found out. Publishers in Sweden and Germany complained that the settlement notification was so poorly translated that they had trouble understanding...