Microsoft Set to Compete With Amazon and Apple in the $12 Billion Education Market
May 02 2012 - 8:20AM
Marketwired
Things are starting to heat up in the e-book market with
Microsoft's recent $300 million investment in Barnes & Noble
Nook digital reader. News of the recent deal sent shares of Barnes
& Noble soaring over $25 early Monday morning. With the new
investment Microsoft looks to challenge Amazon and Apple in rapidly
growing e-book industry. The Paragon Report examines investing
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Microsoft's $300 million investment will give them a 17.6
percent stake in a yet-to-be named subsidiary that will develop an
application based on Barnes & Noble's Nook e-book platform for
its Windows 8 operating system. The Nook e-book brand will combine
with an education business that provides books and course materials
for college students. This would allow Microsoft to enter the $12
billion education market competing with Amazon's Kindle e-reader
and Apple's iPad. "Everyone wants to make sure it doesn't end up
being just an Amazon world, or just an Apple world, or even an
Amazon-Apple world," stated James McQuivey, an analyst with
Forrester.
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"The shift to digital is putting the world's libraries and
newsstands in the palm of every person's hand, and is the beginning
of a journey that will impact how people read, interact with, and
enjoy new forms of content," said Andy Lees, President at
Microsoft. "Our complementary assets will accelerate e-reading
innovation across a broad range of Windows devices, enabling people
to not just read stories, but to be part of them. We're at the cusp
of a revolution in reading."
Apple at the beginning of the year announced that they would
begin to sell digital textbooks for their iPads. The company sold
350,000 textbooks in only three days after the announcement. "Our
research indicates that Apple has a very strong following with
Authors, Publishers, Faculty and Students and may capture 95% of
Digital Textbook Market, while Amazon.com may only participate in
the 5% of the market," analyst Trip Chowdhry wrote in the Global
Equities Research report.
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