Is Barnes & Noble Nook Partnership With Samsung a Bestseller?

NEW YORK (TheStreet) -- One day after announcing it is teaming up with Samsung Electronics (SSNLF) to release a Nook tablet to battle industry heavyweights Amazon.com's (AMZN) Kindle and Apple's (AAPL) iPad, Barnes & Noble (BKS) is mum on how successful it thinks it will be.

Asked Thursday by TheStreet about the future of the Nook/ Samsung joint venture and how much market share and potential revenue the venture could grab, spokesperson Mary Ellen Keating wouldn't give a forecast.

"We have not provided any sales forecast for the new device and have not commented on tablet market share," she said via email. Barnes & Noble shares recently traded at $23, up 54% for the year to date, thanks in part to the spinoff announcement.

The book retailer announced Wednesday its plans to spin off the Nook unit and the Samsung joint venture on a co-branded tablet in August that will carry Nook software and content.

"We will support the new Samsung Galaxy Tab 4 Nook with premier real estate within the store that will put the new devices front and center," said Mitchell Klipper, chief executive of Barnes & Noble's retail group.

The move became necessary due to the current saturation of the tablet market, which is capping the standalone Nook's tablet sales.

According to a study done last August by the Book Industry Study Group, Nook tablet ownership lags industry leaders such as Amazon.com's Kindle and Apple's iPad by a wide margin.

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