Rumor: New Nook Color Coming November 7

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We knew Barnes & Noble would have a new Nook Color to strike back at Amazon’s Kindle Fire eventually, and according to a few unnamed sources, the revamped e-reader and tablet is set to launch on November 7.

Nate Hoffelder at The Digital Reader heard from three sources, including a retailer and a Barnes & Noble employee, who confirmed the company’s plans for a second-generation Nook Color.

(MORE: Why Barnes & Noble is Selling Rugs)

The existing Nook Color is a 7-inch tablet that runs a modified version of Google’s Android operating system. The Nook Color’s emphasis is on books and magazines, but it also includes a selection of Barnes & Noble-approved apps, a web browser and built-in e-mail. Its main disadvantages against the Kindle Fire are its $250 price tag, its slower single-core processor and its lack of built-in digital stores for music and video.

Here’s what Hoffelder’s retail source said about its Nook Color plans:

“This morning, during our meeting, we were talking about this brand new NOOK department. Nook has never been considered a department, ever…in the center we took away the customer service counter and built a massive NOOK boutiqueOur manager told us…November 7th there will be a major announcement from the company. he concluded saying it was exciting times. Obviously something is coming.”

That “something” could be more than just a simple hardware refresh for Barnes & Noble’s 7-inch tablet. Past rumors have hinted at a $349 Barnes & Noble tablet called the “Acclaim,” which would be a higher-priced tablet than the existing Nook Color. But don’t be surprised if Barnes & Noble lowers its prices to keep up with the $200 Kindle Fire.

In any case, I’d hold off on buying a Nook Color for the next couple of weeks. A newer model, and possibly lower prices, could be just around the corner.

MORE: Amazon’s Kindle Fire and New Kindle E-Readers Closeup

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