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Waterstones to stop selling e-books as it ties up with Kobo Waterstones to stop selling e-books as it ties up with Kobo
(35 minutes later)
The UK's largest book retailer Waterstones has announced it will stop selling digital books.The UK's largest book retailer Waterstones has announced it will stop selling digital books.
The company will instead divert its e-book customers to digital book specialist Kobo.The company will instead divert its e-book customers to digital book specialist Kobo.
Waterstones boss James Daunt said Kobo provided "an excellence of service we ourselves are unable to match".Waterstones boss James Daunt said Kobo provided "an excellence of service we ourselves are unable to match".
The decision to pull out of e-books is the retailer's latest move away from digital after its shops stopped selling Kindle e-readers in October.The decision to pull out of e-books is the retailer's latest move away from digital after its shops stopped selling Kindle e-readers in October.
From 14 June, Waterstones will start sending emails to customers about how to transfer their e-book libraries to Japanese-owned Kobo.From 14 June, Waterstones will start sending emails to customers about how to transfer their e-book libraries to Japanese-owned Kobo.
Michael Tamblyn, chief executive of Kobo, said: "We are pleased to be working with Waterstones, where we can help a great print retailer by supporting their customers who also love to read digitally."Michael Tamblyn, chief executive of Kobo, said: "We are pleased to be working with Waterstones, where we can help a great print retailer by supporting their customers who also love to read digitally."
Waterstones has focused on improving its experience for customers, including with specialist staff and in-store cafes, since it was acquired by Russian billionaire Alexander Mamut from HMV in 2011.Waterstones has focused on improving its experience for customers, including with specialist staff and in-store cafes, since it was acquired by Russian billionaire Alexander Mamut from HMV in 2011.
The business made a profit of £5.4m last year as a result of cutting cost and a 1% growth in sales to £378m. The business made a profit of £5.4m last year as a result of cutting costs and a 1% growth in sales to £378m.
Earlier this year, Barnes & Noble, the US bookseller behind the e-book brand Nook, stopped selling digital books in the UK.