Is Barnes and Noble starting to feel the pressure? Or is there something big on the way from the book-selling giant? Today's announcement that B&N cut the price of its Nook Tablet and Nook Color may be an indication to the former, the latter, or both. 

B&N knocked off $50 from the price of the 16GB Nook Tablet and $20 from its Nook Color. You can now pick up an 8 GB Nook Tablet for $180, a 16 GB Nook Tablet for $200, or a Nook Color for $150. The price cuts make B&N's tablets more attractive to those looking to pick up a small, inexpensive tablet. 

The market for cheap tablets with small screens exploded this summer when Google announced its Nexus 7 tablet. With top-notch specs, support for the Google Play store, and $199 price tag, the Nexus 7 is currently the best bet for a small tablet. Amazon is rumored to be prepping a follow-up to its Kindle Fire tablet, and Apple is reportedly planning to release a smaller version of the iPad later this year. 

While the price discount is much needed, we hope Barnes and Noble has something up its sleeve for the latter part of the year. 

[via PC World]