Kobo announces Q1 results with strong sales of Aura HD driving growth

Canadian eBook reader manufacturer Kobo has announced first-quarter results for 2013, reporting year-on-year growth in both device and content sales en route to an overall revenue increase of 98 per cent.

Kobo said that it has boosted its user base by some 2.5 million eBook lovers in Q1 for a total of 14.5 million global Kobo users. The firm's results also show that its customers read 34 per cent more content compared to the same time period last year.

"This is a massive $250 billion (£165bn) market and still in the early days of a 25 year transformation," commented Kobo CEO Michael Serbinis.

He continued: "At Kobo, we're focused on people who are passionate about reading, who love books, who want an experience that lets them get lost in words. Our commitment to delivering the best content, devices and overall experience anywhere in the world is attracting more readers than ever before."

Kobo attributed its recent growth partly to the launch of the limited edition Kobo Aura HD, which accounted for 27 per cent of all Kobo devices sold in Q1. What's more, 50 per cent of the consumers who bought the product were new to the Kobo brand.

In addition to the success of its devices, the company also noted that its Kobo Wiriting Life self-publishing platform was helping to drive content sales, while its mobile apps were also performing strongly - in the first-quarter, downloads of Kobo's Android app were up a whopping 378 per cent year-on-year.

Kobo also offers an iOS app, and has confirmed that it is expecting to launch an eReading app for BlackBerry 10 in June.