Steve Jobs
Apple Inc. (NASDAQ:AAPL) along with four publishers – known in America as Simon & Schuster, HarperCollins, Hatchette and Macmillan – are accused by the European Union to depress competition in the e-book market by setting a price for e-books for sale in Apple’s iTunes Store and not allowing other retailers – like Amazon.com Inc. (NASDAQ:AMZN) – from selling those items at a lower price. This is called the “agency model” of pricing, which Apple is accused of convincing the four publishers to adopt in 2010 – a model whereby the publishers set the price of the e-book to be sold. This is counter to the “wholesale model,” which allows retailers to set the selling price.
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