Indigo reports a big loss in the quarter, say customer response to the Kobo is goodIndigo Books & Music has reported a large $5.3 million loss in the past quarter, up from $2.3 million last year. Indigo owns 58% of Kobo (who makes the Kobo e-reader). Indigo's CEO said: "Consumers have responded very favorably to our Kobo eReader launched in late May, and the business continues to gain traction in markets around the world... The increased loss is not unexpected as we continue to invest significantly in the growth and development of Kobo"
The Kobo e-reader is a 6" E Ink reader which is rather basic - no 3G or Wi-Fi (syncing is done via USB). It is sold for $149 - originally a cheap alternative to the Kindle or the Nook, but now Amazon has an even cheaper Kindle (The Wi-Fi only Kindle 3 costs $139) and B&N is also offering a Wi-Fi only Nook for $149.
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