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Barnes & Noble cuts prices on Nook devices

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Bookseller Barnes & Noble (NYSE:BKS) cut prices on its Nook Tablet and Nook Color devices late Sunday, ratcheting up for the back to school season.

The New York-based retailer, which has about 27 per cent of the U.S. e-books market, lowered the price of its Nook Tablet with 16 gigabytes of memory to $199 from $249.

Barnes & Noble also cut the price on its eight-gigabyte models to $179 from $199, and reduced the price for its Nook Colour to $149.

The price changes took effect Sunday.

"Our reader’s tablets have consistently been the highest rated products by leading technology experts and now they're available for the lowest prices ever,” said Jamie Iannone, president of digital products, in a statement.

All of the devices include a seven-inch display and provide digital content, including e-books. The Nook tablet was released last year in response to Amazon’s (NASDAQ:AMZN) Kindle Fire and Kobo’s tablets and offers an array of books, movies and TV shows.

Barnes & Noble’s stock closed Friday at $14.31 - down almost 5 per cent in the last month.

Quick facts: Barnes & Noble Education

Price: 3.73 USD

NYSE:BNED
Market: NYSE
Market Cap: $177.58 m
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