Apple recently announced its new textbook program and like all other products and services, even this initiative is all poised to set new
records. According to industry analysts, Apple has already sold about 350,000 iBooks textbooks. The program was launched only three days back. The findings have been made by Global equity Research.
The new research report also states that Apple's new iBooks Author app has already been downloaded 90,000 times. iBooks Author is a free tool for creating textbooks. The initiative is meant to create new paradigms in text book market.
Global equity Research also claimed that Apple can drastically reduce the prices of textbooks by removing middlemen. The research estimated that the production costs may be slashed by as much as 80 percent. Apple is planning to offer high school text books at $14.99 apiece or less.
The research report also delves into the advantages offered by iBooks. The initiative does not deal in used books and since it sources its books directly from publishers, it cuts down on supply chain costs. It also involves minimal distribution costs. The report also states that iBooks are cheaper to produce than traditional print books. Lower price point and wide audience may help publishers in moving bigger numbers, thus making up for the relatively smaller profit margin.