Tesco to launch its own tablet to rival Apple and Amazon
Supermarket giant expected to launch £130 tablet in bid to regain lost profits on books and DVDs
TESCO is to take on the might of Amazon and Apple by launching its own tablet computer. The iPad-like device is expected to hit the shelves by Christmas and will come with pre-loaded books, films and music as well as apps for Tesco's online grocery and banking services.
Although the retailer has refused to comment on further "market speculation", Tesco is expected to charge around £130 for the "high-quality" product. Tesco is not the first British retailer to enter the tablet market: in 2011 Asda launched its own Arnova range of tablets, while Next launched its 7in media tablet in 2010.
According to the Sunday Times, the launch of a tablet is expected to help the firm regain some of the profits lost to Amazon and Apple from books and DVDs.
Philip Clarke, Tesco's chief executive, has been trying to reinvigorate Tesco's performance after its annual profits fell for the first time in nearly two decades in April. The supermarket was hit by a £1 billion write-off on the closure of its disastrous American venture, Fresh & Easy.
The retailer now faces trouble with its Turkish business, which lost an estimated £20m last year. Clarke said Tesco was still "working to find a model that works" in the country.
Clarke also hopes Tesco's redesign of its out-of-town stores will reinvigorate profits. The refurbished Watford Extra, which acts as a prototype for how the other 250 hypermarkets may look, now includes a Euphorium bakery, a Giraffe restaurant and a Harris + Hoole coffee bar. ·