updated 11:10 pm EDT, Mon July 18, 2011
Kobo reassures in wake of Borders' death
Kobo reached out to assuage readers in the wake of Borders' eventual death with promises that devices like the eReader Touch Edition and book purchases would carry over. The e-book firm had already been moving customers over from the Borders-specific accounts over to Kobo's own. Readers should have access to all the same books but also stay more current on apps and features.
No mention has been made of what will happen to Borders' minority stake in Kobo.
The Canadian company latched on to Borders as its way of getting an exclusive place in the American market. Amazon and Barnes & Noble both had inherent advantages by running both the bookstore and the device that Kobo couldn't replicate on its own. Kobo has a deal for Best Buy that will help alleviate its device sales but may now have to count on its apps and its sales in Canada, Germany, and elsewhere to shore up its performance.
Borders' liquidation and formal end are believed to stem more from its slowness to adapt to digital rather than the merit of Kobo's e-readers, which the bookstore only began pushing in earnest near its end. [via TechCrunch]