In a move which apparently has something to do with Amazon's much-rumored Kindle refresh, and Google's decision to venture into the tablet arena with its 7-inch Nexus tablet, Barnes and Noble (B&N) has recently announced that it is slashing the cost of its Nook devices.

Slashing the price on its Nook Color and Tablet lines, B&N has brought about a $50 reduction in the cost of its 16GB Nook Tablet, which will now cost $199 instead of $249; and a $20 reduction each in the price of its 8GB Nook Tablet and its Nook Color e-book reader. As a result, the 8GB Tablet will now cost $179; while the Color e-reader will cost $149.

With the price-cuts that B&N has announced for its award-winning Nook Tablet and Nook Color e-reader, the devices are now available at the lowest-ever pricing.

The price-reduction move by B&N, coming just in time for the back to school season and following B&N's last-month launch of updates to its online store, clearly underscores the company's projections of a potential increase in its hardware sales as well as the media to play on it.

Noting that B&N's Reader's Tablets "have consistently been the highest rated products by the leading technology experts," Jamie Iannone - B&N's President of Digital Products - said in a statement that the cuts in Nook pricing will allow B&N's customers to enjoy its "best-in-class digital reading and entertainment experience with an expansive selection of digital content and apps at an unbeatable price."