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Edition: U.S. Article Comments (0) Email Print Reprints Read U.S. slips to historic low in global corruption index 26 Oct 2010 UK growth doubles forecast 26 Oct 2010 Sony rally shortlived as speculation dismissed | 26 Oct 2010 Factbox: Aziz latest in line of death sentences in Iraq 26 Oct 2010 Analysis: Asia's economic history foretells Chinese slowdown 25 Oct 2010 Discussed 71 Republicans poised to win House and gain in Senate 64 Special Report: The haves, the have-nots and the dreamless dead 56 Special report: Conservative donors let Christine O’Donnell sink Watched Russian spy poses for Maxim Tue, Oct 19 2010 Mexico's 20-yr old police chief Thu, Oct 21 2010 Robot close to workplace reality Mon, Oct 25 2010 Report Title Price ValuEngine Industry Report for HOME FURNISHINGS Provider: ValuEngine, Inc. $49.0 Buy Plunkett's Retail Industry Almanac 2010 Provider: Plunkett Research, Ltd. $299.0 Buy Plunkett's Retail Industry Trends & Statistics 2010 (Summary) Provider: Plunkett Research, Ltd. $149.0 Buy Entertainment & Media Industry Market Research and Competitive Analysis 2010 Provider: Plunkett Research, Ltd. $299.0 Buy Entertainment & Media Industry Trends, Statistics & Analysis 2010 (Summary) Provider: Plunkett Research, Ltd. $149.0 Buy NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here. Barnes & Noble launches updated Nook Tweet This Share on LinkedIn Share on Facebook By Phil Wahba NEW YORK (Reuters) - Barnes & Noble Inc unveiled the latest iteration of its Nook e-reader, featuring a color touch screen and Wi-fi web browsing, as it seeks to catch up to industry leader Amazon.com's Kindle in the race for... Barnes & Noble CEO William Lynch holds Nookcolor at product launch in New York, Oct. 26, 2010. Credit: Reuters/Handout Related News UPDATE 2-Barnes & Noble launches updated Nook Tue, Oct 26 2010 HP unveils $799 tablet with a PC feel Fri, Oct 22 2010 Amazon cost outlook weighs on holiday prospects Thu, Oct 21 2010 UPDATE 2-Barnes & Noble takes Nook eReader to Walmart Thu, Oct 21 2010 RPT-PREVIEW-Forget price, Amazon growth fuels the bulls Wed, Oct 20 2010 Analysis & Opinion Check Out Line: Showdown at the Barnes & Noble corral Related Topics Technology » Media » iPad » Stocks By Phil Wahba NEW YORK | Tue Oct 26, 2010 7:52pm EDT NEW YORK (Reuters) - Barnes & Noble Inc unveiled the latest iteration of its Nook e-reader, featuring a color touch screen and Wi-fi web browsing, as it seeks to catch up to industry leader Amazon.com's Kindle in the race for market share in the growing digital books arena. The Nookcolor, built on Google Inc's Android operating system, is now available for $249 for pre-order online, or at Barnes & Noble stores starting on Wednesday. The product will begin shipping around November 19. The largest U.S. bookstore chain launched the first version of the Nook a year ago and struggled with production snafus and delays in the device's first months, but the device has emerged as a serious contender. The price for the earlier Nooks start at $149. Barnes & Noble Chief Executive William Lynch said at the product launch in New York that the company has already sold "well over" 1 million Nooks so far and said that could quickly double. Barnes & Noble, which has contended with years of sales declines in physical books, is staking its future on its ability to adapt to digital bookselling. It has committed $140 million to developing the Nook this fiscal year. Forrester Research analyst James McQuivey said that Amazon's decision not to include in the Kindle touch screen functions like those found on Apple Inc's iPad computer tablet -- which includes e-reader capabilities -- has given Barnes & Noble an opening. "The big holes left in the market ... are the gap between today's e-readers and the Apple iPad," McQuivey said, noting that e-readers will have to function as lightweight tablets to pull ahead of rivals. The Nookcolor weighs less than one pound. McQuivey said that as a bookseller with brick and mortar stores, Barnes & Noble had a built in advantage over a rival like Sony in selling its e-readers. "Nook has been successful because Barnes & Noble brings book buyers through its doors every day," he said. Forrester Research estimates that Barnes & Noble will have sold 2 million Nook devices by the end of 2010, closing in on Sony Corp's Reader for second place. But that is still far behind Amazon, which Forrester expects to sell 6 million units, with a U.S. e-reader market share greater than 60 percent. Barnes & Noble, which last month won a proxy fight with dissident shareholder Ron Burkle and put itself up for sale in August, is hoping the company will be more valuable because of the new Nook. "The value is obviously the growth component, not in the component that's been going sideways for years... Investors are going to want a growth story," chairman and founder Leonard Riggio told Reuters on the sidelines of the launch. Riggio said there was no news on the sales process, adding that it had just begun. Forrester estimates 10.3 million e-readers will be sold in the United States marketwide by year's end. That figure is expected to reach 15.5 million by the end of 2011. The average e-reader owner spends about $60 per year on e-books. (Reporting by Phil Wahba; Additional writing by Martinne Geller; Editing by Bernard Orr) Technology Media iPad Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. 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