Apple to fight US govt over e-book price allegations
   
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Apple to fight US govt over e-book price allegations

Last Updated: Monday, June 3, 2013, 10:01
 
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Apple to fight US govt over e-book price allegations
London: Software giant Apple, which has been accused by the US government of fixing prices of e-books with publishers, would be facing the three week non-jury trial from Monday.

According to BBC, the allegations claim that the company agreed with publishers back in 2009 to set prices rather than individual retailers to do so.

This move allowed Apple to take a percentage of sales made through its iBooks platform.

Quotes from Apple founder late Steve Jobs'' biography have been cited as an evidence by the Justice Department in which he described the strategy as an ''aikido move'' through which the company decides the price, get their 30 percent and the customer pays a little more.

This practise prevented Amazon from lowering their prices.

However, Apple Chief Tim Cook denied doing anything wrong and dismissed the idea of a settlement with the government.

According to the report, five publishers have already agreed to terminate their e-book agreement with Apple.

The settlement with Penguin was the largest worth 75million dollars, Hachette, HarperCollins and Simon & Schuster created 69 million dollars fund for refunds to consumers and Macmillan settled for 26 million dollars.

Cook said that the company was ready to fight the government, and its defence team said that their agreement with the publishers did not affect their dealings with other retailers like Amazon, the report added.

ANI



First Published: Monday, June 3, 2013, 10:01


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