by Staff Writers
New York (AFP) Oct 15, 2012
Amazon has announced it will offer refunds to customers who bought e-books as a result of a partial settlement of a lawsuit against publishers in a price-fixing case.
The e-commerce giant said the precise amounts won't be known until a court finalizes the deal but that the refunds will probably range from 30 cents to $1.32 for certain Kindle books purchased between April 2010 and May 2012.
In notifications to customers over the past few days, Amazon noted that publishers Hachette, Harper Collins, and Simon & Schuster have agreed to the deal in a US government lawsuit alleging a price-fixing conspiracy with Apple.
The settlements create a $69 million fund for refunds.
"We think these settlements are a big win for customers and look forward to lowering prices on more Kindle books in the future," Amazon said in a message to its customers.
The three publishers reached a settlement in April when the US government launched its case against Apple and other publishing houses "for conspiring to end e-book retailers' freedom to compete on price."
The lawsuit will proceed against Apple along with publishers Macmillan and Penguin Group for what US authorities called a conspiracy to raise prices and limit competition for e-books.
US officials said the scheme was aimed at ending a discounting effort by Amazon, which sold most e-books at $9.99 until the new pricing plan was forced on the retail giant.
The move almost instantly raised the prices consumers paid for e-books, authorities said.
Space Technology News - Applications and Research
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Shares in China's ZTE slump after profit warning
Hong Kong (AFP) Oct 15, 2012
Shares in Chinese telecom firm ZTE, accused by US lawmakers of posing a security threat, tumbled 15.9 percent in Hong Kong on Monday after it released a third-quarter profit warning. The stock closed at HK$10.56 a day after it projected a net loss between 1.9 billion yuan ($303 million) and 2.0 billion yuan for the three months to September 30, while the benchmark Hang Seng Index ended flat. ... read more
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