New tools and platforms for replacing today's paper textbooks with iPads
Apple (AAPL) on Thursday introduced three new inititatives by which it hopes to "reinvent the textbook" around the iPad:
At least a dozen iPad textbooks are already available from such major educational publishers as Pearson and McGraw Hill for $14.99 or less. That's a price that could prove disruptive in an industry where textbooks often start at $60 apiece. It remains to be seen whether publishers will find it worth their while for $15 (or less, if Apple takes its usual 30% cut) to add all those interactive bells and whistles.
Apple's shares, which hit a new intraday high of $431.37 before the event began, soon gave up most of their gains
Below the fold: Our live blog of the event.
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