While many people think of the iPad or the Kindle when you talk about tablets and eReaders there is another player in the market that is doing really well – Barnes & Noble with their NOOK tablet/eReader.
In fact they are doing so well with it that they are apparently looking into spinning it off into a business of its own, because we all know how well the brick and mortar book business is doing so why endanger losing it if they have to close up shop like Borders did.
To announce this decision B&N released this:
“We see substantial value in what we’ve built with our NOOK business in only two years, and we believe it’s the right time to investigate our options to unlock that value. In NOOK, we’ve established one of the world’s best retail platforms for the sale of digital copyright content. We have a large and growing installed base of millions of satisfied customers buying digital content from us, and we have a NOOK business that’s growing rapidly year-over-year and should be approximately $1.5 billion in comparable sales this fiscal year. Between continued projected growth in the U.S., and the opportunity for NOOK internationally in the next 12 months, we expect the business to continue to scale rapidly for the foreseeable future”
– William Lynch, CEO, Barnes & Noble
While sales of the monochrome version was not quite as much as B&N had hoped for over the holidays t he NOOK did account for $327 million in online sales.