The New 8GB Nook Tablet Is Official and Will Cost $199

Rumors circulated yesterday that a cheaper Nook Tablet was on its way, and now it's official. Barnes & Noble is launching an 8GB version of its tablet, to go on sale for $199. Yes, that does make it a direct Kindle Fire competitor.

It really is identical to the existing Nook Tablet, expect for the fact that it has half the storage—making it the same capacity as the Kindle Fire, too—and is $50 cheaper. The storage is split on the Nook, with 1.5GB being dedicated to B&N content and only 4GB being available for user files.

As well as launching the new device, Barnes & Noble has also announced that the Nook Color will see a drop in price, so it will now retail at $169. Both will be available from Barnes & Noble and third party retailers in the next week or so. [Barnes & Noble]