Once again the rumor mill has been right as Barnes & Noble has introduced a new Nook Tablet with lower specs and price. The new Nook features a 8GB built-in storage and half the RAM than its predecessor, and it will be available at the amazing price of $199 which is the same price as the Kindle Fire.

Barnes & Noble introduced this new tablet in order to compete against the aforementioned Amazon Kindle Fire. The biggest advantage of the new Nook Tablet is that it features a microSD card meaning that it won’t matter too much that there are only 8GB available for the user.

In addition, the Nook Color price has been reduced to $169 which makes it cheaper than the Kindle Touch. B&N has come up with aggressive prices as the lower-end tablet market is becoming more and more populated, and there are rumors that Apple will join the party with the iPad mini.

The cheaper Nook Tablet is available for purchase right now at all Barnes & Noble online and physical stores. The book retailer added that other retailers will receive the Nook Tablet in the very near future, and the price will probably be the same.

The older Nook Tablet features 16GB or flash storage and 1GB of RAM, while the newer Nook Tablet 8GB comes packed with 512MB RAM. Both tablets have access to the Nook Newsstand, Nook Kids, Nook Comics, and a lot of manga and anime content.

The tablet is powered by a dual-core 1GHz processor, 7-inch touchscreen, and Android 2.3 Gingerbread. The 16GB version costs $249, while he 8GB version is available for the aforementioned $199 amount.

Let us know if you’re going to purchase the new Nook Tablet or if you’re going to opt for an Amazon Kindle Fire. If these two choices aren’t good enough for you, then maybe you’re going to wait for the higher-end iPad 3 that will be unveiled during the first week of March.