Amazon to Cut E-Book Prices

    Image #: 13754188    A commuter (R) reads on her Kindle e-reader while riding the subway in Cambridge, Massachusetts March 18, 2011. Publishers are adapting to rising sales of e-books, and the popularity of smart phones and tablets such as the iPad. The retail landscape has changed with Amazon becoming the dominant seller of books while countless book stores go the way of video rental stores. America's No. 2 book store chain, Borders, is bankrupt. Some authors have dropped their publishers entirely, self-publishing online and using social media to connect with readers.  REUTERS/Brian Snyder (UNITED STATES - Tags: MEDIA BUSINESS SCI TECH)       REUTERS /BRIAN SNYDER /LANDOV

    Brian Snyder, Reuters / Landov

    Moving swiftly to gain the upper hand after the Justice Department announced a suit against Apple and major publishers for price-fixing on e-books, Amazon lowered prices on major titles from $14.99 to $9.99 or lower. The charges against Apple put Amazon, which once controlled 90 percent of the e-book market, back in a powerful position to set prices. The government has accused Apple of colluding with four major publishers to charge consumers more than they would have paid otherwise. But publishers and sellers say readers won’t be any better off in Amazon’s hands, since the online seller already dominates the market and will now have even more control.

    Read it at New York Times