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Barnes & Noble turns the page on Nook tablets

Published on Jun 26, 2014 6:26 AM
 
US book retailer Barnes & Noble said on Wednesday it would spin off its Nook division, which produces tablets and digital books, amid ongoing losses at the unit. -- PHOTO: AFP

NEW YORK (AFP) - US book retailer Barnes & Noble said on Wednesday it would spin off its Nook division, which produces tablets and digital books, amid ongoing losses at the unit.

The plan authorised by the board would separate the Nook unit by early 2015 and ends the effort by Barnes & Noble to directly challenge online giant Amazon and its Kindle devices.

“We have determined that these businesses will have the best chance of optimising shareholder value if they are capitalised and operated separately,” B&N chief executive Michael Huseby said.

The book retail operations and Nook Media “will continue to have long-term, successful business relationships with each other after separation,” he added.

 
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