Struggling bookseller Barnes & Noble (BKS) has found a new partner for its Nook tablets business.
On Thursday, Barnes & Noble said that it will develop new Nook tablets in a co-branding partnership with South Korean electronics giant Samsung. The new Nook tablets will be called the Samsung Galaxy Tab 4 Nook and will begin reaching consumers later this summer, CNET notes.
Nook tablets, once a bright spot for Barnes & Noble, have seen their market share plunge in competition with Amazon’s (AMZN) Kindle tablets and Apple’s (AAPL) iPads.
The Samsung Galaxy Tab 4 Nook, which will become available in August, will have a 7-inch display and will run on Barnes & Noble’s Nook software. Under the partnership with Samsung, Barnes & Noble will effectively exit the hardware side of the Nook tablets business.
In 2012, (MSFT) acquired a 17% stake in Barnes & Noble’s Nook business.
BKS stock climbed more than 2% in Thursday morning trading on news of the deal. Barnes & Noble stock closed at $18.90 per share on Wednesday.
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