ANN ARBOR, Mich., May 7 /PRNewswire/ -- Borders® rolled out its digital initiative today, announcing that it is now taking pre-orders for the Kobo eReader and next month will debut its eBook store and apps powered by Kobo -- embarking on a strategy that will provide rich digital content and a wide variety of devices that feature emerging technologies. As a device-neutral, rich-content provider, Borders will sell the Kobo eReader along with a variety of other eReading devices in Borders stores in special digital shops called Area-e™, launching in August.
Pre-orders for the Kobo eReader, which will showcase the Borders branded eBook store, are being taken at www.borders.com/koboereader. The Kobo eReader has been touted as "the real Kindle killer" by "Wired Magazine" because of its attractive features and low price — just $149.99. In fact, the Kobo eReader is among the most affordable eReaders available, giving consumers an economical introduction to eReading via a stylized, easy-to-use, eInk based reader. To get consumers started with their eReading experience, the Kobo eReader will come preloaded with 100 classic books. The Kobo eReader will begin arriving at customer's homes beginning June 17, in time for Father's Day.
The upcoming Borders eBook store will feature over a million titles, which consumers will be able to discover and purchase through the Borders.com Web site and through free Borders apps available for the iPhone, Blackberry and Android as well as the iPad and all PCs.
"We're excited to offer the Kobo eReader to our customers, the first of what will be a wide selection of eReaders we'll sell, along with an online store that supports a variety of devices, giving consumers freedom in the eBook world at the best possible value," said Borders Group Interim President and Chief Executive Officer Mike Edwards. "We are giving consumers the flexibility to read the content they want on a variety of devices of their choosing. The Borders eBook store will be positioned as a device-agnostic, content-focused destination with expertise from decades of deep book knowledge and experience. We'll also have a strong in-store digital presence through our Area-e™ boutiques, which will launch in August. It's a niche position within our industry and one where we fully intend to leverage our knowledge and products to serve the growing eReading needs of our customers."
"We're pleased to introduce the Kobo eReader to the U.S. market through distribution at Borders," said Michael Serbinis, CEO of Kobo. "Borders' customers will value the affordable price point, range of content and reading experience offered through the Kobo eReader."
About Kobo, Inc.
Kobo is a global eReading service backed by majority shareholder Indigo Books & Music, Borders Group, Inc., REDgroup Retail, and Cheung Kong Holdings. Kobo believes consumers should be able to read any book on any device. With a catalog of over two million eBooks, and an open platform, Kobo enables retailers, device manufacturers and mobile operators to bring the joy of eReading to customers everywhere. For more information, visit www.kobobooks.com.
About Borders Group, Inc.
Headquartered in Ann Arbor, Mich., through its subsidiaries Borders Group, Inc. (NYSE: BGP) is a leading specialty retailer of books as well as other educational and entertainment items. The company employs approximately 19,500 throughout the U.S., primarily in its Borders® and Waldenbooks® stores. Online shopping is offered through borders.com. Find author interviews and vibrant discussions of the products we and our customers are passionate about online at facebook.com/borders, twitter.com/borders and youtube.com/bordersmedia. For more information about the company, visit borders.com/media.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these forward-looking statements by the use of words such as "expect," "planning," "possibility," "opportunity," "goal," "will," "may," "intend," "anticipates," "working toward" and other words of similar meaning. One can also identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address matters such as the company's future financial condition and performance (including earnings per share, the profitability of Waldenbooks, liquidity, cash flows, debt levels, market share growth and other sales information, inventory levels and capital expenditures), its cost reduction initiatives and plans for store closings and the expansion of product categories, including eBook content and eReaders. These statements are subject to risks and uncertainties that could cause actual results and plans to differ materially from those included in the company's forward-looking statements.
These risks and uncertainties include, but are not limited to, consumer demand for the company's products, particularly during the holiday season, which is believed to be related to general economic and geopolitical conditions, competition and other factors; the availability of adequate capital--including vendor credit--to fund the company's operations and to carry out its strategic plans; adverse litigation results or other claims, the performance of the company's information technology systems and, with respect to eBook content and eReaders, the availability to the company of anticipated content levels and a variety of competitive devices.
The company's periodic reports filed from time to time with the Securities and Exchange Commission contain more detailed discussions of these and other risk factors that could cause actual results and plans to differ materially from those included in the forward-looking statements, and those discussions are incorporated herein by reference. The company does not undertake any obligation to update forward-looking statements.