Barnes & Noble has not indicated what the event will cover, with PR firm Fleishman refusing to take a page from Apple's playbook and tease audiences with what the announcement could include.
However, in a May 4 10K filing, Barnes & Noble disclosed that the May 24 announcement would indeed be an e-reader. "In a meeting with investor analysts on May 4, 2011, Barnes & Noble, Inc. (the "Company") indicated it expects to make an announcement on May 24, 2011 regarding the launch of a new eReader device," the company said, without elaborating.
Barnes & Noble now represents more than 25 percent of all of the U.S. market for e-books, more than the company's share of physical books, and it sells twice the number of e-books as physical books, at least online. The company exceeded its sales plans for e-book sales during the company's most recent quarter.It is the fourth straight quarter of topline growth exceeding 50 percent since selling the Nook in 2009.
As an e-reader with tablet functionality, the Nook wouldn't seem to have many features that it lacks compares to other e-readers. The Nook is available in color, and in both Wi-Fi, and in 3G, although speculation is that version is dying.
"It remains early in the development of the digital reading market," said William Lynch, the chief executive of Barnes & Noble, in a conference call on Feb. 22.
What could Barnes & Noble offer, perhaps in a Nook 2?