Apple (AAPL) on Watch as Pearson (PSO) Joins NOOK Effort (BKS) (MSFT)
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Apple (Nasdaq: AAPL) is on watch today following an earlier announcement that Pearson plc (NYSE: PSO) will be making a substantial investment in an educational rival.
According to an earlier press release, Pearson will sink $89.5 million into NOOK Media, a spin-off of Barnes & Noble (NYSE: BKS). Microsoft (Nasdaq: MSFT) is a partner in NOOK Media, investing $300 million in the effort earlier this year.
Apple has been making a push towards offering education materials via its Apple in Education initiative. The tech giant hopes to transform the classroom by introducing standard educational materials through its iPad (and now, iPad mini). In October, CEO Tim Cook said that full-size iPads have already been adopted for use in 2,500 U.S. schools in the two-and-a-half years since introduction.
What most concerns educators is the cost: Apple's iPad mini starts at $329, about 65 percent above the competition from Barnes & Noble, Google (Nasdaq: GOOG), and Amazon.com (Nasdaq: AMZN). Given the higher cost plus expenses for books, some question whether Apple will be able to make as large of impact as hoped.
Shares are indicated lower Friday morning.
According to an earlier press release, Pearson will sink $89.5 million into NOOK Media, a spin-off of Barnes & Noble (NYSE: BKS). Microsoft (Nasdaq: MSFT) is a partner in NOOK Media, investing $300 million in the effort earlier this year.
Apple has been making a push towards offering education materials via its Apple in Education initiative. The tech giant hopes to transform the classroom by introducing standard educational materials through its iPad (and now, iPad mini). In October, CEO Tim Cook said that full-size iPads have already been adopted for use in 2,500 U.S. schools in the two-and-a-half years since introduction.
What most concerns educators is the cost: Apple's iPad mini starts at $329, about 65 percent above the competition from Barnes & Noble, Google (Nasdaq: GOOG), and Amazon.com (Nasdaq: AMZN). Given the higher cost plus expenses for books, some question whether Apple will be able to make as large of impact as hoped.
Shares are indicated lower Friday morning.
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