Oh gosh, this is awkward. Please no one tell Kobo that their first actually interesting product—an E-Ink ebook reader with a touchscreen—is about to get blasted out of the water by a new Nook that does the same thing.

That's the rumor over at CNET, whose tipster says that the next Nook—being announced about 90 minutes from now, we'll be there!—will be a "squat, black, touch-screen e-ink reader" called The Simple Touch Reader. The expected cost is $140.

Not much else is known or guessed, although presumably the Simple Touch Reader will function very similarly to that Kobo eReader touch from yesterday. First-generation Nooks will reportedly get a price drop to $119 and $169 for the Wi-Fi and 3G + Wi-Fi versions, respectively. [CNET]