Barnes and Noble Entering E-Book Market
In what could be a significant development for the growing e-book sector, Bookstore giant Barnes and Noble announced last week that it has purchased an online bookstore, Fictionwise, for $15.7 million, and will launch its own online bookstore later this year, the Wall Street Journal reported.
Fictionwise will continue to operate as an independent subsidiary of Barnes and Noble. The new entity will compete with the popular Kindle from Amazon, which recently announced that it has offered a Kindle reader as an iPhone application. Fictionwise offers an iPhone app of its own.
Rival Borders carries the Sony Reader device.