Competition is always good; it pushes for great innovation and better prices for the public. Barnes & Noble are up against two very popular devices in the Amazon Kindle Fire and the Nexus 7 by Asus. For these 7" tablets price seems to be the number one thing on people's mind when it comes time to decide and purchase. No official word was given as to why the price was lowered, but it is great news for consumers.
Both the Nook Color and Nook Tablet (8GB) were reduced by $20 with a retail price of $149 and $179 respectively. The Nook Tablet (16GB) was reduced by $50 to $199. The 8GB models of the Nook Color & Tablet are priced below the Kindle Fire & Nexus 7, but after comparing features, specifications, and taking into account the usability frustration inherent with custom UI overlays I still do not believe it is worth getting over the Nexus 7. Both of these tablets are both hacker friendly for those who are interested (Nook Color Forum and Nook Tablet Forum).
If you are interested in learning more about the specifications or would like to purchase one of these tablets, click over to the Nook Color & Nook Tablet sections on Barnes & Noble's website.