Apple decided to sell eBooks with the iPad, changing the industry considerably
San Francisco, CA -- (SBWIRE) -- 09/19/2012 -- A decision has been made that may spark an eBook price war.
A federal judge has approved a settlement between the U.S. Department of Justice (DoJ) and three major publishers in a civil antitrust case, which accuses the companies of being in association with the increasing prices of eBooks.
In April, the U.S. Department of Justice announced that it was suing Apple and five of the biggest publishing houses (Hachette, HarperCollins, Macmillan, Penguin and Simon & Schuster) over collusion to fix eBook pricing.
Apple, along with Penguin and Macmillan, has denied the allegation with Apple saying the claims were simply not true.
Apple has vowed to fight back and defend itself against the charge. They are due to go trial in June 2013.
It's devastating to bookstores," Paul Aiken, executive director of the Authors Guild told the Wall Street Journal. "For two years the settling publishers must allow vendors to discount eBooks at any price they want.
"The court acknowledges that this restores the status quo conditions before 2010, when Amazon was able to capture 90% of the eBook market. The Justice Department is reshaping the literary marketplace without submitting a single economic study to the court to justify its actions."
Amazon took a hit on a number of titles as it felt that capturing the audience and turning them into a loyal Amazon customer was a viable option. The height of its popularity proved that they were right and Amazon held over 90% of the eBook market.
The introduction of the iPad in 2010 and Apple’s indication that it wanted to sell eBooks on it has change the market considerably.
The five publishers named in the lawsuit have agreed to the deal, setting eBook prices for bestselling titles at $12.99 and above, which led to Department of Justice to file its lawsuit.
ComprarEbookYa.com (http://www.comprarebookya.com/) is a website that deals with different e-readers. WWW.ComprarEbookYa.com gives the prices of each E-book that is available online and their own respective prices along with reviews.
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