Barnes & Noble (BKS) CEO Lynch Sees 'Record' NOOK Preorders, Not Worried About Apple (AAPL)
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Barnes & Noble, Inc. (NYSE: BKS) shares are higher on the session Monday amid positive chatter tied to NOOK preorders.
In an interview on CNBC this morning, Barnes & Noble CEO William Lynch said preorders on the new NOOK HD and NOOK HD+ as that the highest levels ever seen for the device.
Lynch also noted how Barnes & Noble was still able to keep up with deep-pocketed peers in tech, noting that the market is large enough for more than one key player. For the NOOK, Lynch noted that the target audience was heavy readers and families.
In terms of distribution, Lynch noted the NOOK's relationship with Target (NYSE: TGT) and Wal-mart (NYSE: WMT), both of which have stopped selling Amazon's (Nasdaq: AMZN) Kindle devices, including the Kindle Fire.
Finally, Lynch didn't see Apple (Nasdaq: AAPL) as a direct competitor. However, should Apple launch a smaller version of its amazing iPad -- which is all but officially announced -- the lower price-point could cannibalize at least some of expected NOOK sales.
Shares of Barnes & Noble are 3 percent higher, though volume looks a little light.
In an interview on CNBC this morning, Barnes & Noble CEO William Lynch said preorders on the new NOOK HD and NOOK HD+ as that the highest levels ever seen for the device.
Lynch also noted how Barnes & Noble was still able to keep up with deep-pocketed peers in tech, noting that the market is large enough for more than one key player. For the NOOK, Lynch noted that the target audience was heavy readers and families.
In terms of distribution, Lynch noted the NOOK's relationship with Target (NYSE: TGT) and Wal-mart (NYSE: WMT), both of which have stopped selling Amazon's (Nasdaq: AMZN) Kindle devices, including the Kindle Fire.
Finally, Lynch didn't see Apple (Nasdaq: AAPL) as a direct competitor. However, should Apple launch a smaller version of its amazing iPad -- which is all but officially announced -- the lower price-point could cannibalize at least some of expected NOOK sales.
Shares of Barnes & Noble are 3 percent higher, though volume looks a little light.
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