On Saturday, Nov. 3, Barnes & Noble (B&N) announced a price cut for its NOOK Color and NOOK Tablet. The company had recently announced two new tablet offerings: the NOOK HD and NOOK HD+; and with the holiday season knocking at the doorstep, it seems that B&N is leaving no stone unturned to make it to users' Holiday shopping list.

"NOOK Media LLC, a subsidiary of Barnes & Noble, Inc. (NYSE: BKS), the world's largest bookseller and leading retailer of content, digital media and educational products, today announced amazing new, lowest-ever pricing on its award-winning NOOK Tablet and NOOK Color devices in time for the holidays," noted the press release.

Customer can purchase the NOOK Tablet and NOOK Color for $159 (8GB) and $139 (8GB), respectively, which is a price drop of $20 and $10. The devices will be available at the revised prices Nov. 4 onwards from B&N retail stores or online. The 16GB version of NOOK Tablet will now cost $179, a drop of $20. Additionally, the devices can also be bought from other leading retailers who offer B&N products.

"Just in time for the holidays, these new lower prices make NOOK a great gift for anyone in the family," said Jamie Iannone, President of Digital Products at Barnes & Noble. "With everything from interactive children's books to the best collection of top 100 magazines in rich color, NOOK is perfect for anyone who likes to read."

Three months back, Barnes & Noble had slashed the prices of both these NOOK devices. The company is also slated to release its 7-inch Nook HD and 9-inch HD priced at $199 and $269, respectively, on Nov. 8 in time for the holiday season.

Currently, the company's rival Amazon's Kindle Fire costs the same as the 8GB NOOK Tablet, whereas the Nexus 7 from Google is for $200 (16GB). The NOOK Color may not have a direct competitor from Amazon or Google; however, the former's Kindle Paperwhite e-reader is along the similar lines and is $20 cheaper than the NOOK Color.

With competition in the smaller tablet space heating up it remains to be seen if Barnes &Noble's price cut will propel sales figures for the company. The question is would this price drop be enough for B&N to stay afloat, or would they need to slash the prices for the NOOK Color and NOOK tablet to stay in contention?