Retail in Asia

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Apple and others in price-fixing rap

The US has accused Apple and five major publishers of conspiring to push up the prices of e-books and limit retail price competition.

The conspiracy has caused e-book consumers to pay "tens of millions of dollars more for e-books than they otherwise would have paid," the Justice Department said in a lawsuit filed on Wednesday.

The department alleged that Apple and the publishers had a common interest in fighting Amazon’s practice of selling e-books for as little as USD9.99, and had decided to work together to raise prices.

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(Source: scmp.com)