UPDATE 1-Borders takes orders for Kobo eReader due in June

* Borders taking pre-orders for Kobo eReader

* Device to arrive in customers’ homes starting June 17

CHICAGO, May 7 (BestGrowthStock) – Borders Group Inc (BGP.N: ) said
on Friday that it is taking pre-orders for the Kobo eReader,
which will arrive in customers’ homes starting on June 17, and
plans to launch its eBook store in June.

Borders also said it plans to designate “Area-e” shops
inside its stores to sell the Kobo eReader and other eReading
devices starting in August.

The Kobo eReader, priced at $149.99, will join the space
that has been dominated by Amazon.com Inc’s (AMZN.O: ) Kindle.
Borders’ larger rival Barnes & Noble Inc (BKS.N: ) is already
selling its Nook e-reader and Apple Inc (Read more about Apple stock future.) (AAPL.O: ) recently
entered the fray with its more expensive iPad and has already
sold more than 1 million of those devices.

The Kobo eReader, which will be preloaded with 100 classic
books, will start arriving in customers’ homes starting on June
17, Borders said.

The Borders eBook store will have more than 1 million
titles, which shoppers will be able to buy through its web site
as well as via free apps available for the iPhone, Blackberry,
Android, iPad and computers.

Stock Report

(Reporting by Jessica Wohl, editing by Dave Zimmerman)

UPDATE 1-Borders takes orders for Kobo eReader due in June