Apple's release of the IPad has sparked the ever growing ebook industry. Apple is also assisting consumers suffering from the strain of present economic conditions by keeping ebooks in the under $10.00 range. This is causing publishers to complain but is certainly feeding ereader's appetites.
Publishers claim that the under $10.00 price range is far "too low to sustain their business." Apple has recognized this and teamed with Amazon to create negotiations that will fuel the ebook's popularity as well as Kindle and IPad users.
Steven P. Jobs went on record at the IPad's preview in January, that Apple secured contracts with the Hachette Book Group, HarperCollins Publishers, Macmillan, the Penguin Group, and Simon & Schuster to vend ibooks for very little profit. Apple will only pocket 30 percent of ibook sale, while 70 percent of each ibook sale will be available for publishers and/or authors. The only catch was in the fine print. Apple requires best sellers, like those found on the NY Times Best Sellers List, to be sold at discount prices to better compete with Amazon and bookstores, with a "ceiling" of $12.99 - $14.99.
Moreover, a printed hardcover book is generally in the $26 price range at bookstores. Apple wants ibooks to be cheaper for consumers and insists publishers sell at rates better than those found elsewhere.