Barnes & Noble (BKS) is learning from its past mistakes by lowering the prices of Nook HD tablets and manufacturing less tablets after overproducing the product last holiday season.
The Wall Street Journal reports that the nine-inch Nook HD+ tablets introduced last fall will be priced at $149 after failing to sell the product well for $269 last year. Additionally, the seven inch Nook HDs will drop from $199 to $129 as Barnes & Noble looks to compete with Amazon (AMZN) and Apple (AAPL).
The book retailer has been a step behind Amazon’s Kindles and Apple’s iPads for years now but the company is hoping that offering these products at a discount price will encourage customers to choose the Nook. Barnes & Noble is hoping to make a comeback with a new product but customers will have to settle for an old Nook HD or the black and white Nook GlowLight e-reader which is priced at $119.