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Barnes & Noble cuts price of its Nook devices

Barnes & Nobel Nook-TabletIn a bid to secure a bigger share of the tablet and e-reader market and to get the attention of those taking a close look at Amazon’s Kindle Fire device, Barnes & Noble is now offering a discount on its selection of mobile devices.

Those who buy the book giant’s new Nook Tablet will be offered a $50 discount so long as they take out a one-year subscription to People magazine at a cost of $9.99 a month. The discount means the cost of the Nook Tablet now matches that of Amazon’s Kindle Fire tablet—$199.

As for Barnes & Noble’s e-readers, the discounts are even heftier. Buy a Nook Color with a one-year subscription to the New York Times for $19.99 a month and you’ll get $100 knocked off, reducing the price of the device from $199 to $99.

The Nook Simple Touch e-reader gets a $99 discount, making it free to anyone who takes out a one-year subscription with the New York Times.

According to a Wall Street Journal report, while Barnes & Noble wouldn’t comment on the specifics of the offer, Percy Solomon of People publisher Time Inc. said that the cost of the discount was being absorbed by both companies.

Competition in the tablet market is fierce, with Apple’s iPad leading the field. While Amazon’s recently released Kindle Fire sold well over the holiday season, Barnes & Noble announced last week that it too had fared well during the busy shopping period, with sales of its e-readers and tablet increasing by 70 percent over the same period last year.

The New York-based company will be hoping to pick up a few more sales with its latest offer, which runs from now until March 9.

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