Barnes & Noble Claims 20% of eBook Market
Barnes & Noble holds one-fifth of the eBook market, according to the company’s second-quarter earnings report today.
The company said that since launching its eBookstore in the second half of last year, it has captured about 20 percent of the eBook market. The company did not provide specific details about the market share of its hallmark eReader, the Nook.
“We have plans to grow our share well beyond 20%, and the early success of Noookcolor is encouraging,” said company CEO William Lynch in a statement. Lynch also said sales trends indicated that “eReaders and accessories will be a key holiday gift item and driver of holiday sales this year.”
Barnes & Noble said orders for the recently launched Nookcolor “significantly exceeded” expectations. The color eRader has become Barnes & Noble’s single best-selling product, the company said. Sales of the Nook are expected to push sales up between 5 percent and 7 percent next quarter.
Overall, Barnes & Noble managed to cut its losses nearly in half from last year. The company lost $12.6 million in the second quarter ended Oct. 20, compared to losses of $23.9 million last year. Sales rose to $1.9 billion from last year’s $1.16 billion.