Barnes & Noble Slashes Prices on Nooks

Posted on: 9:33 am, August 13, 2012, by , updated on: 09:35am, August 13, 2012

(Photo Credit: Fox 8 News video still)

(Photo Credit: Fox 8 News video still)

By Aaron Smith

NEW YORK (CNNMoney) — Book retailer Barnes & Noble is slashing prices on its digital e-book reader, the Nook, by as much as 20% in the face of fierce competition from rival e-books.

Barnes & Noble, which announced the price cut Sunday, revealed the reduced prices on its website. The Nook Color is reduced to $149 from $169, the Nook Tablet-8GB is reduced to $179 from $199 and the Nook Tablet-16GB is reduced to $199 to $249.

This is the latest salvo in the war of the e-readers, dominated by Apple’s iPad, Amazon’s Kindle Fire and Samsung Galaxy.

The competition in the fledging market for e-book has been contentious. Back in April, the U.S. Justice Department filed suit against market leader Amazon and five book publishers for alleged price fixing on individual book titles available through e-readers.

Barnes & Noble has been under pressure, even with its former rival book dealer Borders going under in 2011.

Barnes & Noble said back in January that it might sell off its Nook business, prompting Microsoft to invest $300 million in the bookseller.