Google Inc. (NASDAQ:GOOG) is preparing to launch an e-book store called Google Editions. Google Editions will allow consumers to buy books and read them on e-book devices. This is the first time that Google will be getting into the e-book sales market.

Google Book Search publisher partnership program head Tom Turvey said that the publishers will be the ones responsible for setting the price of the e-books. Next year Google Editions will launch with about 400,000-600,000 e-books. “It will be a browser-based access,” stated Turvey at the 61st Frankfurt Book Fair. “The way the e-book market will evolve is by accessing the book from anywhere, from an access point of view and also from a geographical point of view.”

Google will earn 55% of the e-book profits and the rest will go to the publisher. That is too massive of a chunk for selling someone elses’ work in my opinion. Google lets developers keep 70% of revenue earned on the Google Android Market mobile application store.

Some of the most popular e-book readers on the market today include the Amazon.com Kindle and the Sony Reader.