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After a 2013 decision to exit the tablet business, Barnes & Noble is back with its cheapest Nook yet. At $49.99, the device--a seven-inch tablet supporting the Google Play Store--seems intended to compete with Amazon's Fire tablet. The Fire is also priced at $49.99 and is allegedly Amazon's best-selling tablet in the U.S.
Barnes & Noble's return to the market comes after several years of partnering with Samsung to produce Nook-branded tablets. The company had stopped production of its Nook tablets after dismal third-quarter sales in 2013--a time when other retailers, including Amazon and Apple, were seeing their tablet sales rise.
The new Nook will launch this Friday, just in time for the holiday shopping season. The release also comes just a week after the company posted a decline in sales for the second quarter of this year. The company reported an overall smaller loss than was expected, however, sending shares up 6% last week.
Also last week, Barnes & Noble announced the opening date of its first concept store. The store, officially opening on December 2 in Eastchester, NY, will feature a restaurant and "mobile engagement devices." The company is likely counting on strong holiday sales and new-initiative excitement to make up for recent losses and continue to bolster its market position.
