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They do generally honor it, but it doesn't actually apply to ebooks (1-they are not on the list of products where it applies and 2 - there is no displayed low pre-order price guarantee language on the ebook pages, which are required). One reason is due to the Agency model, where they can't adjust a price after it is ordered (yet Penguin seems to be able to cancel your pre-orders without notice or consequence, if they decide they want to increase a price ... so, always keep track of your pre-orders or just don't do it with Penguin).
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