Breaking Finance News

LA Unified School District to Purchase 640,000 iPads

According to 9to5mac, the Los Angeles Unified School District will purchase Apple (NASDAQ: AAPL) iPads for its 640,000 students by the end of 2014.

The report says that in phase one of the roll out, 31,000 will be purchased for students identified as not being able to afford a laptop or any other computer. By the end of 2014, the district hopes to have iPads in the hands of every student.

This is a revenue driver for a variety of reasons. First, bringing students into the Apple ecosystem makes them more likely to purchase more iOS devices down the road. Second, assuming the program is a success, other school districts will take the lead of the nation’s second largest school district and begin purchasing iPads as well.

Finally, the cost of the iPad is less than having to purchase expensive hard-copy-textbooks for each student over time. A win-win for Apple, the school district, and publisher Pearson (NYSE: PSO)

[stock-tools exchange="NASDAQ" symbol="AAPL" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with's FREE daily email newsletter.