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Originally Posted by DuckieTigger
Do the lost sales have to go somewhere? Maybe it is possible that ex Nook readers simply slowed down reading? Those lost interest in reading simply disappear in the statistics. Sure some sales went to a different ebook supplier, but many may have went to a different kind of entertainment or disappeard completely.
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It is possible but the ebook market is still growing substantially.
Plus Nook's early success was built off eink devices and avid readers. Not exactly the kind of people one would expect to stop reading. Their customer base wasn't built off tablets and cellphones only, like Apple and Google.
Nook themselves pointed out their dependence on eink reader customers last year to explain why they were staying in the hardware business. So it is more likely their hardware customers are buying from somebody else (their eink readers are compatible with Kobo and Google, after all).