Apple wants to pay Americans almost 300 million euros over price agreements

Apple wants to pay American consumers converted 295 million euros because of the price agreements with five publishers regarding high prices for e-books in the iTunes Store. This is evident from court documents. Payment is not yet certain.

The complainants claimed in the lawsuit converted around 620 million euros and Apple therefore wants to pay out a total of around 330 million euros, of which 295 million euros to consumers. That writes Reuters news agency on the basis of court documents that came online on Wednesday.

The payment will only be made if an appeals court in New York City also finds Apple guilty of artificially inflating prices for e-books. This happened around the launch of Apple’s tablet iPad.

Apple let book publishers set the price of e-books, of which it collected 30 percent itself. As a result, Amazon, among others, had to increase the prices of its e-books; Apple signed contracts with publishers in which they committed to give Apple the lowest price.