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Nook users, you’re about to be an endangered species.
A few days ago, Barnes & Noble, one of the last remaining book sellers in the United States that still maintain physical locations, announced that they will no longer be producing and selling their Nook.
The Nook has found its niche in the market, albeit not a very strong one, as Nook revenues dropped 34% just for last quarter (about $108 million). All in all for 2013, Nook revenues have declined a very steep hill and have cost the company $776 million.
While the company says they’ll continue to produce Simple Touch and Glowlight products, the tablet itself will be “co-branded” with a third party that already produces consumer electronics. As of yet, the partner company has not been announced, and a time table as to when that might happen has not been disclosed.
As far as what’s going to happen now, Barnes & Noble plans to sell what is left of their inventory off during the holiday season this year. In addition, the book company also stated that they will continue to provide quality support for the tablets and offer software upgrades.
“We are taking big steps to reduce the losses in the Nook segment as we move to a partner-centric model in tablets and reduce overhead costs,” Barnes & Noble CEO William Lynch said. “We plan to continue to innovate in the single purpose black-and-white eReader category, and 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.”
If you have a Nook and use it as your tablet, then have no fear – they aren’t going anywhere, and neither is the support for when you have problems. If you’re looking for a tablet, the company has said that they will probably be reducing the price this holiday season to clear out their inventory.
