The Nook made a huge splash when it came on the scene. It was really the first of its kind and people wanted it for the freedom and benefits it gave. Gone were the days of needing to buy lots of bulky books to carry with you to appointments or the beach just for them to get damaged or lost. The Nook offered an alternative that people had been seeking: a device to store books at their fingertips that could be easily carried from place to place, and the eBooks could be downloaded without having to visit the store.
Why It Was Almost Gone
It was almost gone and phased out, though, because it was made and offered by Barnes and Noble, a bookstore. The company met a demand, much to their own downfall. They made it, marketed it, sold it in-store, and lost money on it. The company realized it was losing money on the rest of its books and services, and cut the Nook from their shelves. Customers wanted it back, though, so Barnes and Noble did an overhaul on the Nook, which was very much needed since other eReaders quickly hit the market and challenged the original.
Why It Is Being Reduced
The Nook UK just announced it’s slashing prices on the new Nook that was just put out a few months ago. The reason why this is happening is because the company knew they needed to bring people back in. Barnes and Noble is still losing money off of the Nook, so the company is at a crossroads on whether or not they will continue to market something that makes them money and costs them money, or if they will let go of certain larger stores.
The Future of Nook
Nook is doing everything it can to get back on top. Its products have been well reviewed, and its prices are reasonable – especially with recent discounts or promotions. Other eReaders aren’t tied to bookstores, though. This means that other companies don’t have as much to lose and don’t have to worry about losing revenue on the eBook trend. They can plow full force into this new era of books and reading in a way that Barnes and Noble has been cautious about.
The Nook created a stir when it hit the scene, and it changed the way people everywhere read books. Along came competitors and more eReaders, and the Nook began to face competition not only from them but from within its own company. The device was created by a store that was built on selling books, but it hindered the sale of those books. For this reason, it was nearly completely taken off the market. It went through an overhaul and reentered the market.
For now, the future is unknown. According to TechCrunch, Nook is planning to stop production of its Android-based tablet business by the end of the 2014 fiscal year. Nook content will then be distributed through third-party partner devices. But TechCrunch also reported that Nook Media has no plans to discontinue the device but instead is planning for a gradual decline of them.
