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Barnes & Noble Abandons Nook Tablets After Heavy Losses

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http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/electronics/10142127/Barnes-and-Noble-abandons-Nook-tablets-after-heavy-losses.html

The company will continue to build its own black and white Nook e-readers, which have been more successful against Amazon’s Kindle range. It will now rely on branding deals with third party manufacturers in the fiercely competitive tablet market, it said.

Chief executive William Lynch said the move would reduce losses by removing the costs associated with developing the more complicated devices.

“We plan to continue to innovate in the single purpose black-and-white e-reader category,” he said. “The underpinning of our strategy remains the same today as it has since we first entered the digital market, which is to offer customers any digital book, magazine or newspaper, on any device.”

The troubles in the Nook division, where fourth quarter revenues were down 34pc to $108m, weighed heavily on Barnes & Noble’s annual results. Group losses more than doubled to $118.6m as sales at its 650 bricks and mortar stores also fell.

I wonder what losses they are making in the UK with the Nook at £29?

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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