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Despite its status as the most commercially successful Android tablet to date, sales of Amazon's Kindle Fire have plummeted, falling from 4.8 million during the fourth quarter of 2011 to just 750,000 through the first four months of 2012.
Amazon stock experienced a 15 percent gain yesterday on the strength of its first quarter earnings report. The report showed evidence that the company is transitioning from a retailer selling books, DVDs, and video games to more of a digital merchant.
Apple, along with 5 of the nation’s largest publishers have had an antitrust lawsuit filed against them. The US filed the suit on Wednesday, alleging they have conspired to limit competition in the e-book market by adjusting their prices.
The Department of Justice is suing Apple and major book publishers like Macmillan and HarperCollins over the pricing of e-books.
Amazon announced on Tuesday that it will begin accepting in-app payments from its online marketplace.