Tablet manufacturer, Barnes & Noble has cut the prices of three of its models of its Nook e-reader and tablet devices on August 12, 2012. The tablet maker has cut the prices of the tablets just before the peak of the back to school session.

The price cut has also been announced amidst speculations that s preparing to launch the new version of its Kindle Fire tablet. The company said that it covers about 27 percent of the US e-book market.

Barnes & Noble said that it has slashed the prices of its 16 GB memory device to $199 from $249. At present online retailing giant Amazon is the market leader with about 60% of e-book and e-reader sales.

The company even slashed the prices of its 8 GB version by $20 to $179. Even the price of its Nook Colour by $20 to $149. The new prices of the products went in to effect on August 12, 2012. The prices of the Nook devices have been reduced despite its immense popularity. The company reduced the prices due to various reasons, one of them being Amazon due to the competition. Amazon is preparing to launch its new version Kindle Fire which might be a threat for the other tablet manufacturers.