But DoJ suit expected to be bad news for readers in long run
(NEWSER) - Just after the Department of Justice launched its antitrust lawsuit against Apple and five major publishers , Amazon announced plans to slash e-book prices. But while the move is expected to cut the prices of major titles from $14.99 to $9.99 or less, analysts believe the benefit to consumers will be short-lived. Amazon, which already controls around 60% of the e-book market, can afford to sell books at a loss to boost Kindle sales and the price-fixing lawsuit is expected to give it an overwhelming advantage, allowing it to drive competitors out of the market and start dictating its own terms to publishers. More»
