Walmart to Sell Kobo E-Reader Starting Next Week

Walmart Stores (WMT) will start selling the Kobo Inc. digital book reader in U.S. stores next week, as it moves to increase its hand-held electronic product line.

U.S. stores will begin selling the Kobo device as early as Oct. 24, Walmart CEO Michael Serbinis told Bloomberg News.

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Kobo is a joint venture between Indigo Books & Music and Borders Group (BGP). The e-readers have been available at U.S. Borders stores since August.

"Borders is a household brand name in the U.S. and there are millions of booklovers who go to Borders, but not all books get bought at bookstores," Serbinis said. "It's important to have retail distribution outside bookstores."

Walmart will also start selling the Barnes & Noble (BKS) Nook e-reader next week. Walmart started offering the Apple (AAPL) iPad earlier in October.