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3M Launches New Lendable eReaders for its Cloud Library

Zacks Equity Research

3M Library Systems, a part of diversified conglomerate 3M Company (MMM), has been offering innovative library services to its patrons. Recently, 3M Library Systems introduced the NOOK GlowLight – a new lendable eReader for its Cloud Library to facilitate an easy access to its library collections.

This new offering expands e-Book and technology access to library patrons throughout the U.S who do not have their own eReader, computer or smartphone.  The libraries can purchase NOOK GlowLight eReaders directly from Barnes & Noble, Inc. (BKS) stores for lending to patrons. These eReaders offer patron personalization and makes e-Book lending, browsing and reading easier. The devices are easy to use and lightweight, offering GlowLight feature for nocturnal reading.

3M’s strategic move is intended to increase e-book circulation and provide all the possible benefits and convenience to the users. 3M appears to be more in sync with the rapidly changing needs of e-Books in public libraries and 3M Cloud Library appears to have a distinct competitive advantage to tap this potential with the new product.

3M, together with its subsidiaries, operates as a diversified technology company with manufacturing operations spread over 70 countries. The company aims to deliver innovative security solutions to businesses and governments worldwide, thus ensuring the security of people and documents.

3M remains focused on inventing new products to maintain its competitive edge worldwide. The rise in demand for such innovative 3M product services is likely to augment its overall revenues.

3M currently has a Zacks Rank #4 (Sell). Other stocks that look promising and are worth a look now include  CLARCOR Inc.  (CLC ) and Crane Co (CR), both carrying a Zacks Rank #2 (Buy).


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