Barnes & Noble Nook Nearing Its End
Barnes & Noble today announced that the company is scaling back its Nook operations, even though losses from the company’s e-reader line having dropped significantly. In a press release, the company’s CEO Ron Boire revealed that they are focused on further “curtailing” the expenses from its Nook and retail businesses.
In its quarter ended in January, Barnes & Noble has managed to reduce its Quarter on Quarter Nook business losses. Down 62% now, Barnes & Noble is being rumoured to have begun the end of its Nook business. According to various reports in the media, the Nook business has started its journey to the end. In the earnings call, Barnes & Noble announced that the Nook tablets sales have been ended, along with the closure of Nook video, Nook App Store and the UK Nook store.
Is Barnes & Noble expanding its digital presence?
However, the company is here to stay assured Ron Boire. Instead of offering its digital media via its own Nook devices, the company could be looking at expanding its digital footprint. The company revealed that it will continue to offer its e-books, but not necessarily on its own branded devices. In lesser words, this is plausibly the death of the Nook tablet line.
“We will continue to deliver a great e-book experience, but we may or may not have branded devices depending on how that evolves,” he said.
B&N reported an expected drop of 1.2% in its revenues, from $1.44 billion to $1.41 billion.
