Waterstone's is set to launch a digital e-reader to rival Amazon's Kindle next year. The company's managing director, James Daunt, said that he had been inspired by Barnes & Noble's successful Nook device. Waterstone's is currently in the midst of a shake-up after being bought from HMV Group by Russian businessman Alexander Mamut. James Daunt was brought in by the new owner in an attempt to reverse its declining sales. Entering the hardware market would be an ambitious move for Waterstone's and likely involve it partnering with a major electronics company. "Waterstone's e-reader project was "well down the planning line", according to Mr Daunt, and would launch in spring 2012.