American book store giant Barnes & Noble has warned that it expects its Nook e-reader business to post an increased loss this year.
Launched back in 2009 the Nook line of e-readers, which was then followed by a range of tablets, were initially a great money spinner for the firm.
However, recent competition and rock bottom prices of tablets such as the Google Nexus 7 and Amazon Kindle Fire HD has seriously dented sales.
Time to move on?
In 2012 the Nook business recorded a huge $ 262 million (around £170 million/AU$ 250 million) loss, and the American firm expects that figure to grow in 2013.
Barnes & Noble has tried to keep pace in the now-lucrative tablet market, but its most recent offerings - the 7-inch Nook HD and 9-inch Nook HD+ - fall a little short of the mark when compared to similarly priced slates.
We've contacted Barnes & Noble asking how it plans to revive the Nook brand or whether it has any plans to cut its losses and run. We'll update this article once we hear back.
From Reuters
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