Late last week Barnes & Noble, Inc announced that it will no longer be producing most of the NOOK line of tablets on their own, bowing out of competition with Apple, Google, and Amazon.com for the battle of the e-book reader. Less that favorable annual earnings topped the list of reasons why the company will no longer be producing the Nook color.
It is no surprise when you consider that the Nook’s losses before interest and other costs was more than $450 million, soaring over last year’s number by over $200 million in fiscal 2012. The L.A Times reported that Barnes & Noble’s unsold stock of Nooks was integral to company losses of nearly $155 million for the year, nearly 136% higher than net losses posted for fiscal year 2012.
This all makes sense that the company largely operates through a series of chains named Barnes & Noble Booksellers, a company founded in 1873 as a printing business and later earning the title through the Guinness Book of World Records as the world’s largest bookstore in 1974.
While many Aunts, Mommys, and Meemaws will miss the Nook, there are others critics like myself whom are ready to bury the dead:
— Walt Mossberg (@waltmossberg) June 25, 2013
What I am getting at is a piece of advice that I received from an old-timer in Bound Brook, NJ; “Be ya’self, don’t be nobody else, that’s how ya get knocked on ya ass.”
If you are a bookmaker, stick to making books and make the best books possible.
Even though public favor is currently leaning towards easy access with the e-readers, it is Barnes & Noble’s duty as a publisher and bookseller to not simply try and ride the winds of the fad, but to produce an even higher quality and standard of books to their readers in order to keep the physical and written word alive.
Barnes & Noble will continue to make the black and white Nook for anyone still interested in hopping on their sinking ship.
<Source: All Things D>