July 01, 2010

Barnes & Noble drops price of Nook E-Reader

Barnes & Noble (NYSE:BKS) announced that it was dropping the price of its Nook e-reader to $199, down from $259, and is introducing a new version of the device, which will be able to connect to the Internet over Wi-Fi networks, for $149, according to a Kitsap Peninsula Business Journal report.
In response, Amazon (NASDAQ:AMZN) cut the price of its popular Kindle e-reader to $189, from $259.
The price cuts were made as e-readers face pressure from Apple's (NASDAQ:AAPL) unveiling of its iPad, which starts at $500. The device includes a range of functions such as a versatile, colorful display that contrasts sharply with the static, monochrome screen of other e-book readers.
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