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Apple are aiming to revolutionise the old print media industry. Just like they did the phone industry. Just like they did the music industry.
Apple's device will be a reader, but it'll be so much more powerful than the surprisingly successful Kindle. It'll be able to display full colour newspapers and magazines (and yeah, comic books), but also offer a sort of hybrid with the web. So if you subscribe to the NYT on your Apple reader, you'll be able to read the full paper, and also see exclusive video/audio too.
The device will be suitable for textbooks and regular books too, but it is the periodical industry of newspapers, magazines and comic books that Apple will effectively 'save', with this device. You've probably seen all the stories over the last few years about newspaper firms going bust or struggling for a way to stay relevant. Now think back to the late 90s and it was exactly the same with the record companies. Apple have spotted a very 20th century industry that's ripe for revolution. And unlike Amazon, they'll get it right.
Of course, I may be wrong...