When it comes to e-book readers, the only thing that perhaps comes to our mind immediately is Amazon’s Kindle. It is very popular and could survive very well amidst the growing popularity of tablet devices like iPad. It seems that Nook of Barnes & Noble is also going to survive as the company has seen healthy growth in its revenue in the last one year.
As for the good news, revenue was up 7 percent to $2.3 billion compared with the year-earlier period and the company claims it now owns a 25 percent share of the e-book market in the U.S.
"We intend for Barnes & Noble to be a leader in the exploding market for digital content," said William Lynch, Barnes & Noble's CEO. "We now represent 25 percent of the e-book market in the U.S., larger than our share in physical books. We sell twice as many e-books as all formats of physical books combined on BN.com."
Barnes & Noble now spends a lot of money on research and development of Nook and this investment is slowly paying off. Many people thought that the days of e-book readers were going to be numbered because of the onslaught of tablet devices powered by iOS and Android. Google and Apple both have taken this market seriously.
It is impossible to match up the budget of Amazon, Google and Apple but Barnes & Noble is not doing badly with its Nook at least in the US market.
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