RIP Nook HD
Barnes & Noble will halt production of tablets amid low sales, heavy competition
Barnes & Noble will cease manufacturing its Nook HD and Nook HD+ tablets, bowing out of a tablet market dominated by Apple, Amazon and Google.
In the last fiscal year, Barnes & Noble lost $475 million on the Nook business, due to lackluster sales combined with high manufacturing costs.
"It was very capital intensive to build our own tablets," Barnes & Noble chief executive William Lynch said to investors in a call.
Sales of Nook tablets and e-readers dropped 34 percent in the last quarter, despite repeated price cuts.
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