The Apple Inc. (NASDAQ: AAPL) initiative into figital textbook publishing is off to a rousing start. The company reportedly sold 350,000 electronic texts since the program was announced last Friday.
The company’s proprietary digital textbook publishing tools were also popular, racking up a significant 90,000 downloads over the three days according to the WSJ blog All Things Digital. The blog cites research firm Global Equities Research as pointing out that textbook costs could be reduced by a third by eliminating the supplier distribution channel and that the cost of textbook preparation could fall by 80% when compared with traditional print textbooks.
Apple’s shares are up 1.5% this morning, to $426.47 in a 52-week range of $310.50-$431.37.
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