Kindle customers may get credit via settlements (Update)

Oct 15, 2012

Amazon has alerted its Kindle customers in the U.S. that they are entitled to a credit on prior electronic book purchases as part of settlements between some major e-book publishers and the government.

In September a federal judge approved the U.S. Justice Department's settlement with Hachette, HarperCollins and Simon & Schuster, which were accused of conspiring in a price-fixing scheme.

Among other things, the agreement requires the publishers to abandon the pricing system that they had conceived with Apple before it released its iPad tablet in 2010. The publishers must also provide the funds for the Kindle credit.

"We think these settlements are a big win for our customers and look forward to lowering prices on more Kindle books in the future," the Amazon Kindle Team said in the email sent to customers.

Amazon.com Inc. told its Kindle customers over the weekend that they will be contacted when the credit is applied to their account if the court approves the settlement in February. Customers don't need to do anything to receive the credit.

Amazon said that while it doesn't know the amount of the credit until the court approves the settlements, the state Attorneys General estimate it will be from 30 cents to $1.32 for every eligible Kindle book purchased between April 2010 and May 2012. The credit can be used to buy e-books or print books, or customers can request a check in the amount of the credit.

Shares of Amazon fell $3.36, or 1.3 percent, to $239 in morning trading Monday. They peaked at $264.11 in mid-September and traded as low as $166.97 last December.

Explore further: Bose sues Beats over headphone patents

not rated yet
add to favorites email to friend print save as pdf

Related Stories

US judge OKs partial settlement in e-book case

Sep 06, 2012

A US judge approved a partial settlement Thursday in a lawsuit over e-book price-fixing, allowing three publishers to end a deal with Apple that became the target of a government probe.

Amazon launches Kindle store in India

Aug 22, 2012

US e-commerce giant Amazon on Wednesday launched its Kindle Store in India, claiming to have the largest selection of any e-bookstore in the country.

US defends suit on Apple, e-books amid criticism

Jul 23, 2012

US antitrust authorities Monday defended their lawsuit accusing Apple and major publishers of a price-fixing conspiracy on e-books, saying the action is "in the public interest."

Recommended for you

Amazon launches 3D printing store

1 hour ago

Amazon announced Monday the launch of an online store for 3D printed items to allow consumers to customize and personalize items like earrings, pendants, dolls and other objects.

Samsung delays Tizen smartphone sales launch

6 hours ago

Samsung Electronics said Monday it would postpone the roll-out of its new smartphone based on Tizen, a home-grown operating system aimed at breaking away from Google's Android system.

Chinese portal Sohu reports $45 million loss

9 hours ago

(AP)—Sohu.com Inc., operator of a popular Chinese Internet portal, said Monday it lost $45 million in the latest quarter while revenue rose 18 percent to $400 million.

User comments : 0