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Sunday, 31 January 2010

AMAZON MAKE A U-TURN

Amazon.com Inc's dominant position in the now thriving e-book market was at risk of extinction Sunday after Amazon capitulated in a battle sparked by the launch of Apple Inc.'s new iPad.

Amazon conceded defeat Sunday evening after halting direct sales of books published by Macmillan in a dispute over the price of e-books.

"Ultimately we will have to capitulate and accept Macmillan's terms because Macmillan has a monopoly over their own books," Amazon said in a statement.

The issue of e-book pricing came to the forefront after Apple unveiled the iPad last Wednesday

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