ANN ARBOR, Mich. — By now most consumers are at least somewhat familiar with the e-reader, namely Amazon's Kindle and Barnes & Noble's Nook, but there's another e-reader on the market and Borders is banking on the device to help boost its business.
Borders announced that it has expanded its partnership with Kobo, the maker of an e-reader that at $129.99 is about $10 to $20 less than the Kindle and Nook, respectively. The new partnership, according to Borders, with give customers access to new state-of-the-art free e-reading apps and e-reading technology; access to over 2.3 million books, newspapers and magazines; and a unique, industry-first social reading experience, positioning Borders as a strong competitor in the digital space.
Under the arrangement, Borders will also share in the profits of all Kobo e-content sales on devices sold at all retailers in the United States. Beginning June 1, both the Borders e-book store and Borders e-reading app will be branded Kobo.
"We're excited that our customers can now enjoy the best e-reading experience available today through e-reading devices with state-of-the-art technology, apps that offer a first-to-market social reading experience and a knowledgeable customer service support team at Kobo available to answer their questions on devices and eBooks," said Borders CEO Mike Edwards.
In February, Borders Group won bankruptcy court approval to liquidate approximately 200 stores in a deal that may bring in $175 million to creditors.