Quote:
Originally Posted by Kali Yuga
They aren't.
Using the term "cannibalization" does NOT indicate that they were caught off guard. It just means that they believe that ebooks are cutting into their paperback sales -- as opposed to, for example, taking away sales from movie rentals or video games.
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Reminds me of Steve Jobs' reply when asked if the iPhone was reducing iPod sales. "If anybody cannibalizes Apple's sales it should be us". That is the smart way to look at it. For the publishers it should just be a shift to a new medium, but they must manage it carefully.