New York, Aug 13: Back to school shoppers in US can expect some better deals in tablet PC space this season, with to attract young shoppers with limited budget Bernes & Noble Inc slashed price of its three model of Nook e-book readers and tablet prices.

As the competition in tablet space is increasing, Amazon.com announced launching of new Fire and iPad mini is also on the way to hit market, Bernes & Noble has slashed the price of its Nook tablets (16GB)from $249 to $199. Nook is currently holds 27% of US e-book reader market with Amazon's Kindle Fire at top.

The largest book retail chain of US slashed prices of 8GB Nook by $20 to $179 and Nook color price by $20 to $149.

Bernes & Noble has to cut prices of its e-readers as it competes with mighty Amazon in this space and aims to shift focus towards the new developing trend of book reading.

Hit by the price cut the book retailer reported lower than expected revenue for the fourth quarter, as Nook revenue fell 10.5%.

New prices of Nook came into effect from August 12.