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Tuesday, Jun 25
Barnes & Noble (BKS -20.3%) is exiting the tablet market and will focus its hardware efforts...
Barnes & Noble (BKS -20.3%) is exiting the tablet market and will focus its hardware efforts on e-readers, the book retailer announces in tandem with its bleak FQ4 results and FY14 guidance. With B&N's tablet share having cratered and the Nook division reporting $133M in inventory charges for FQ4, the decision isn't hard to fathom. B&N says it will "continue to offer its existing inventory" of Nook tablets through the holiday season, and will seek out partners to make B&N-branded tablets. Amazon (AMZN) must be pleased, given the overlap between the Nook HD and Kindle Fire's targeted customers, and the fact B&N remains a top e-book competitor.