Google launched its eBook service this Monday (December 6), not the rumored Google Editions, but Google eBooks - a direct challenge to Amazon's Kindle. Currently, it is only available to readers in the U.S.
Unlike Amazon and Apple, Google does not currently sell e-readers. Google eBooks can be read on a variety of devices such as smartphones, computers, tablets, Nook, and Sony eReaders, but they are not compatible with Amazon's Kindle.
Google's open strategy offers more device options compared to Amazon's Kindle. Amazon, which dominates the global eBook market with a 65% share, only allows downloads from its online bookstore, differing greatly in openness compared to Google eBooks.
Google has partnered with major American bookstores like Random House, as well as thousands of smaller publishers, offering users over 250,000 books for sale, with revenue shared with the publishers. Prices range from as low as $1 to as high as $300. However, Google eBooks will also provide users with approximately 2.7 million free books. Next year, Google plans to launch its eBookstore globally.
Google has already scanned 15 million printed books. Currently, about 4,000 publishers have authorized Google to place their recently issued books on Google eBooks.
Google (NASDAQ:GOOG) closed at $578.36 per share on Monday, up 0.94%; Amazon (NASDAQ:AMZN) rose 1.35%, closing at $178.05 per share.