A disappointing set of results for Barnes & Noble is causing speculation that the bookseller is to cease production of its Nook e-reader. The firm has warned, ahead of Q3 of its 2013 fiscal results—due Thursday—that its Nook Media division has incurred greater losses than its previous year. It had estimated a $3 billion revenue, but the firm has indicated that the real figure will be far lower. As a result, says the New York Times, future focus will be on licensing its own content to other device makers—in short, to Amazon and Apple.
The firm has been trying all sorts of tactics to make its Nook work, such as last year's deal with Microsoft. But it is Amazon's dominance that is giving the bookseller—the largest in the U.S.—such a hard time. Last month it announced that it would be shutting one-third of its retail stores over the next decade. However, in another twist to the story, the Wall Street Journal is reporting that the B&N Chairman, Leonard Riggio, is interested in buying the firm's consumer retail arm, which would effectively split the company in two.
[Image by Flickr user AMagill]