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NEW YORK -(MarketWatch)- Barnes & Noble Inc. BKS +0.25% will unveil a new electronic book reader later this month, the bookseller told analysts and investors on Wednesday, according to a federal filing released after the close of trading.
The news of the coming announcement comes not 10 days after Barnes & Noble said it is upgrading the software of its popular Nook Color e-reader, giving the device a newer version of Google Inc.'s GOOG -0.01% Android operating system. The Nook Color, which has a touch screen, will now allow users to download free and paid applications, like the popular game Angry Birds, provide greater email functionality and allow users to play Flash videos, among other features.
The software upgrade effectively turned the Nook Color into a low-cost tablet which, at $249 apiece, is hundreds of dollars less than competitors like Apple Inc.'s AAPL +0.06% iPad 2, Motorola Mobility Holdings Inc.'s MMI -2.04% and the Research In Motion Ltd. RIMM +0.04% PlayBook. The more expensive tablets do have several advantages over the Nook Color, like cameras, a much wider selection of apps than Nook Color currently has, and more powerful processors.