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Posts Tagged ‘William Lynch’

Will the Failed Nook Kill Barnes & Noble?

As new technologies have turned the book publishing industry on its head, the U.S.’s largest chain bookstore’s push to embrace digital may lead to its ultimate demise. As Barnes & Noble raced to compete with Apple and Amazon in the eReader and tablet business hoping to own marketshare on eBook sales, the company lost hundreds of millions of dollars.

And let’s face it, a physical bookstore in an era of cheap e-commerce options doesn’t give them a lot of cash to spare. The company is now without a CEO after William Lynch, who spearheaded the Nook business plan, was forced to quit. Barnes & Noble’s biggest mistake seems to be forgetting about people’s love of print books and banking on eBook sales, which so far have steadied out around 20% of book sales. Read more

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Google Play Now on Nook

Barnes & Noble’s Nook Media is bringing Google Play to its Nook HD devices. Previously you could only access Google’s Android marketplace on the Nook through workarounds. Now customers have direct access to the Android store which offers more than 700,000 apps, millions of songs and movies & TV shows. This is great for Nook users as Barnes & Noble’s app offerings were miniscule compared to Google.

The Nook devices will also include a Chrome browser, Gmail, YouTube, Google Search and Google Maps. The Google market and tools will be available to all new and existing NOOK HD and NOOK HD+ customers in the US and the UK through an update.

William Lynch, chief executive officer of Barnes & Noble, stated: “Now with access to more than 700,000 apps and the best reading experience available, NOOK HD and NOOK HD+ are must-see products for entertainment lovers looking for high-quality tablets at incredibly low prices.”

Pearson Investment in Nook Media Closes

Publishing company Pearson’s $89.5 million cash investment in Barnes & Noble’s NOOK Media has been completed. Barnes & Noble announced the investment last month. With the investment, Nook Media is now valued at about $1.789 billion, and Pearson maintains a 5 percent equity stake in the business.

Here is more from the press release: “Following the closing of the transaction, Barnes & Noble now owns approximately 78.2% of the NOOK Media subsidiary and Microsoft, which also holds preferred membership interests, owns approximately 16.8%. Subject to certain conditions, Pearson will earn the option to purchase up to an additional five percent ownership in NOOK Media.”

“We look forward to working with Pearson, a valued partner of ours for many years, in developing new ways to improve and enhance digital learning for students,” stated William Lynch, CEO of Barnes & Noble.

 

Barnes & Noble Nook Sales Fall 12.6% Over the Holidays

Nook segment sales at Barnes & Noble fell 12.6% over the nine-week holiday season compared to the same period last year.

At the same time, the company saw sales rise 13.1 percent in digital books, digital newsstand, and the apps business revenues.

CEO William Lynch had this statement: “We entered the holiday with two great new products, NOOK HD and NOOK HD+, both  highly rated media tablets of phenomenal quality … NOOK device sales got off to a good start over the Black Friday period, but then fell short of expectations for the balance of holiday.   We are examining the root cause of the December shortfall in sales, and will adjust our strategies accordingly going forward.”

Pearson Invests $89.5M in Nook Media

Publishing company Pearson has agreed to invest $89.5 million in cash in Barnes & Noble’s digital content company Nook Media. Nook Media is currently valued at about $1.789 billion, which gives Pearson a 5 percent equity stake in the business. Pearson brings expertise in online learning and digital content to the table.

Here is more from a Barnes & Noble press release: “Following the closing of the transaction, Barnes & Noble will now own approximately 78.2% of the Nook Media subsidiary and Microsoft, which also holds preferred membership interests, will own approximately 16.8%. Subject to certain conditions, Pearson will earn the option to purchase up to an additional five percent ownership in Nook Media.”

“We formed Nook Media to be a leader in the exploding market for digital content,” explained William Lynch, CEO of Barnes & Noble, in a statement.  ”Pearson is a forward thinking company similarly focused on reading and learning, with powerful assets and a terrific management team.  We welcome their partnership in Nook Media, and look forward to working with them and Microsoft to deliver great digital experiences for our shared customers.”

Nook Earns $160 Million In Revenue In Q2, Up 6%

Barnes & Noble’s Nook business, which includes devices, digital content and accessories, had revenues of $160 million for the second quarter in 2012, up 6% as compared to a year ago. Overall Barnes & Noble’s second quarter consolidated revenues were $1.9 billion, down 0.4% over the same time period last year.

According to the company’s quarterly earnings report, digital content sales, which includes eBooks, digital newsstand content and apps, increased 38 percent as compared to the same quarter last year. The quarter’s sales figures do not include sales of the latest Nook devices, as Barnes & Noble pointed out that the company began shipping these products after the close of the company’s fiscal second quarter.

Barnes & Noble executives expect digital sales to continue to grow. William Lynch, the company’s CEO stated, “We expect our two highly acclaimed new NOOK products, and our Microsoft partnership on Windows 8 to further fuel the growth of our digital business, and are encouraged by the promising start to the holidays in our retail and digital businesses.”

Nook HD Preorders Up 240% Over Previous Nook Preorders

Preorders for the Nook HD and Nook HD+, Barnes & Noble’s latest tablets, are up 240 percent from previous Nook preorder periods.

Barnes & Noble CEO William Lynch revealed the news yesterday at Liberty Media Investor Conference in New York City. At the event hosted by Barnes & Noble’s parent company, Lynch also stated that he expects the Nook Bookstore to be available in 10 international markets by June 2013.

The Nook tablets are expected to ship by the end of October, slightly earlier than the company had predicted when it announced the tablets last month. The $199 Nook HD is a lightweight 7-inch tablet and  the $269 Nook HD+ is a 9-inch tablet. The  Nook HD features a high res 1440 x 900 screen with 243 pixels per inch and HD video playback of up to 720p. It weighs 11 ounces and runs a dual-core 1.3GHz high-speed processor. The Nook HD+ has an even more big resolution screen at 1920 x 1280 and 256 pixels per inch. It plays back video in up to 1080p, true HD.

The devices will be available through Barnes & Noble, as well as through Walmart and Target, both of whom recently stopped selling Kindles.

Barnes&Noble.com Sales Increase 64% In Q3 2011

Barnes & Noble third quarter sales were $2.3 billion, for the fiscal 2011 third quarter, which ended January 29, 2011, a 7% increase from the same period last year.

Barnes & Noble.com comparable sales increased 64% as compared to a year ago. Barnes & Noble comparable store sales increased 7.3%, which was slightly higher than the company’s forecast for an increase of 5% to 7%.

William Lynch, CEO of Barnes & Noble said that eBook sales helped drive this:  “In the digital area, our eContent business continues to scale quickly such that we now sell twice as many eBooks as we do physical books at BN.com.  NOOK Color, launched in the third quarter, was named the best dedicated eReader by the Associated Press.   We’re very encouraged by the sell-through of that break-through device, as well as the newly launched NOOK Newsstand subscription service and NOOK Kids children’s digital library.”

Barnes & Noble Store Sales Increased 8.2% In 2010

Despite Nook serve issues, Barnes & Noble had a good holiday season. Last week the company reported that it had their busiest retail day ever on December 23rd. Today, the company

In 2010, Barnes & Noble store sales increased 8.2% over the prior year period to $1.1 billion, with comparable store sales increasing 9.7%, which is the company’s best comparable store sales performance in more than a decade. In addition, Barnes & Noble.com comparable sales increased 78% compared to last year’s holiday selling season.  Total sales at Barnes & Noble.com totaled $228.5 million, an increase of 67% as compared to the period a year ago.

B&N attributes much of the success to the Nook line of eReaders. CEO William Lynch had this statement: “NOOKcolor was one of the most sought-after gifts this holiday season and has quickly become the bestselling device at Barnes & Noble. And, even more encouraging to us, NOOK’s popularity is helping to drive new sales at both our stores and online, where 60% of NOOKcolor owners are new customers of our Barnes & Noble digital bookstore.”

Hanvon To Unveil Color eInk eReader Tomorrow

Color eInk screens are finally here. The New York Times is reporting that Chinese manufacturer Hanvon Technology is expected to unveil the first color eInk reading device at the FPD International 2010 trade show in Tokyo tomorrow.

The NY Times has more: “Hanvon’s first product using a 9.68-inch color touch screen will be available this March in China, starting at about $440. The price is less than an iPad in China, which sells for about $590. It will be positioned as a business product, with Wi-Fi and 3G wireless connectivity. ‘It’s possible that we’ll sell this in the U.S. as well,’ Mr. Liu said. Hanvon sells other products, like tablets and e-readers, to Americans online and through Fry’s, a regional electronics chain.”

The big question remains is when this color eInk eReader will come to the United States and if it will hit popular eReaders like the Kindle. PC World has more: “Amazon has been clinging to E Ink since inception, and Amazon CEO Jeff Bezos said that while the company has plans to create one eventually, the color Kindle is ‘still a long way out.’ Bezos also said that he’s seen ‘several [color touchscreens] in the laboratory, but they are not quite ready for production.’ Nothing yet has matched the readability of E Ink tech.”

Barnes & Noble’s new Nook Color has a color screen, but it does not employ eInk. CEO William Lynch explained at the Nook Color launch, that color eInk isn’t there yet. But perhaps this will change tomorrow.

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