Barnes & Noble, Inc. (NYSE:BKS) announced in June that it is partnering with Samsung to launch a co-branded slate, Samsung Galaxy Tab 4. This new tablet is dubbed as Samsung Galaxy Tab 4 Nook. Bloomberg’s Matt Miller talked about the expectations from the staggering event on Wednesday during which this product was released. Miller said that the main attraction of the mega event organized by Samsung and Barnes & Noble, Inc. (NYSE:BKS) is Samsung Galaxy 4 Tab which is especially designed for reading books. He said that this partnership with Samsung will give Barnes & Noble, Inc. (NYSE:BKS) a much needed push in the markets.
“What we are really expecting is just Samsung’s Galaxy Tab 4, it’s a tablet that Samsung already plans to make separately, but it’s going to be branded Barnes & Noble, Inc. (NYSE:BKS) Nook, it’s going to run a lot of Nook software. So a lot of reading content and a lot of reading software, that Barnes & Noble, Inc. (NYSE:BKS) has really made its name with. It hadn’t made its name so much with the Hardware and that’s why Barnes & Noble, Inc. (NYSE:BKS) is basically to give that up. In fact, it has seen its own Nook tablet sales fall by 22% in the last quarter they fall by 35% in the last year,” said Miller.
Galaxy Tab 4 Nook will be available in two colors, black or white. It features a seven-inch HD display, quad-core processor, 8 GB of storage, which is extendable through micro-SD. Nook slate will have Android 4.4 Kit Kat.
According to Miller, the reason why Samsung decided to make another tablet in times when tablet sales are shrinking is because it is expecting increased sales in a targeted domain like book reading. He said that Barnes & Noble, Inc. (NYSE:BKS) will facilitate Samsung to boost its Tablet 4 sales.
Jim Simons is one of the top shareholders of Barnes & Noble, Inc. (NYSE:BKS), owing 578,000 shares of the bookselling company.