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Barnes and Noble "the Nook", recently unveiled, their own e-reader to compete with Amazon's Kindle.
B&N e-reader includes integrated Wi-Fi and the ability to share e-books with others using B&N's PC, Mac or smartphone compatible software.
In addition, the Nook supports
epub, a major open e-book standard, and PDF, which enables users to upload documents from a computer.
The Nook's entry of the e-reader into the current market enables direct competition with Amazon's Kindle. The consumer will benefit from technological advances to e-readers including a decrease in price with possible likely price wars. There are other companies such as Sony, Spring Design and IREX who may also benefit from the competitive market that B&N's e-reader sets into play.
It is exciting to know that the Nook will soon have more than a million e-books for sale as they are already a book publisher and seller. Additionally, this will reduce the cost of publishing along with sales for an e-reader device.
Google Books is making available to Nook users, almost a half million free non-copyrighted books. Amazon's Kindle cannot state such numbers or no-cost ebook capabilities as B&N e-reader.
While both Amazon and B&N use digital rights management technology to prevent e-book piracy, B&N has introduced sharing within its protected organization. Nook users can lend an e-book to others for up to 14 days. Just like lending a paperback, the lender will not have access to the e-book while its being borrowed. Features that allow people to share e-books are considered an influential step toward moving e-readers from ardent readers and business travelers into the hands of mainstream consumers.
Another advantage of the Nook over Amazon's Kindle, is limited, Wi-Fi capabilities.
The popularity of wireless enables B&N to offer Nook users to visit its stores, where they can use free Wi-Fi to browse available books with discounts and other promotions.
The Nook's Wi-Fi and 3G wireless capabilities, provided by AT&T (NYSE: T), will only access B&N's online properties in comparison to Amazon providing a 3G connection on the Kindle to buy books only from Amazon.
The Nook and the Kindle starting price at approximately $259 may be too expensive for most readers. Most consumers would not purchases these type devices until the e-readers have a starting price of $98 or less. Nevertheless, the popularity of e-readers among electronic book users sees a flourishing marketplace.
Forrester Research provided a report on September 2, 2009 that surveyed 4,706 US consumers.
“What we found was that the price points for how most consumers value eReaders is shockingly low–for most segments, between $50 and $99. (Currently, eReaders in the US are priced between $199 for the Sony Pocket Reader and $489 for the Kindle DX.)”
The profit and marketplace potential will surely see Amazon respond to B&N's Nook e-reader..
The potential for ebook authors is an additional market that emphatically increases with the onset of e-readers–comes the requirement for more content.
Forrester Research
“What this means: The maximum addressable market for eReaders as they are currently priced is substantial–but to reach the largest market possible, the prices will need to come way down. And even then, eReader are never going to be as big a market as mp3 players, which 110 million US consumers own.
But they will still have phenomenal social and economic impact as they catalyze a new behavior of digital reading across multiple devices. We're just at the beginning of this revolution…
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