Barnes and Noble Slashes Nook Prices

Beginning Monday, Barnes and Noble will be cutting prices for two devices. The first being the Nook Tablet and the second being the Nook Color. It’s almost obvious as to why they are doing this. The Nexus 7 is offering some serious competition to the originally $199 priced Nook Tablet. Not to mention that Amazon’s Kindle Fire is also being cut (not just yet though!). Though the Kindle Fire has some crummy hardware compared to the Nook Tablet and the Nexus 7, they’re still trying to stay on top of their game.

The competition is growing fast. The Nexus 7 just recently released at $200 packed with 8GB’s and is 10x better than both the Kindle Fire and Nook Tablet.¬† In a statement on Sunday, Barnes and Noble announced its “lowest pricing ever.” I’m kind of wondering if they actually are going to be making any revenue off of the Nook Tablet. I’m not sure how much it cost them to make, but Barnes and Noble (a very popular bookstore) had said it was possible that they’d go bankrupt and were closing down earlier last year. So far that hasn’t happened, so lets hope this price cut is still more than what the tablet costs to make!

The 8GB Nook Tablet will now be selling for a low price of $179. It was originally $199. The 16GB version of the tablet has dropped to $199 from $249. The least expensive Nook Color will be falling from $169 and landing at $149. All three devices have 7 inch displays, access to a digital library of e-books, movies, television shows and music.

It’s almost obvious that the price drop is a response to the success of Google’s Nexus 7 tablet that gained some outstanding reviews. After the device released last month, stores sold out almost instantly of the 16GB model due to such a high demand. With it running a Tegra 3 processor, one of the fastest mobile processors out to date, it’s not doubt that Barnes and Noble was forced to price cut their device(s).

Not only that, but Amazon is hyping it’s upcoming tablet that is supposedly the successor of the Kindle Fire. Reports are saying that the tablet will be thinner, lighter and have a sharper display than the original. It’s is expected to ship out a bit before September hits. That isn’t too far away either. Hopefully Barnes and Noble is prepared for this and will make another tablet in response. I thought the Nook Tablet was fantastic and was much better than the Kindle Fire even though it’s display wasn’t as glamorous.

Aside from that, reporters have said that the sales of Nook devices have declined during it’s fourth quarter due to a lower selling volume among a few other issues. Overall, Barnes and Noble has has lost around $57.7 million. That’s less than where they were at a year ago, but was more than what analysts had expected.

Would you be purchasing a Nook now that the Google Nexus 7 is out? If so, why? The Nexus 7 is obviously the better price for almost the same as what the Nook is at. Let us know in the comments below!

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