Earlier this month Barnes & Noble made an announcement about their preparing a new tablet to compete with the Kindle Fire. The new 8GB version looks to be the same as their previous models that are currently selling for $249 but with a bit less space.

This being said the new tablet will cost less than its $249 big brother putting it around the same price as the $200 Kindle Fire. Walmart will be releasing the new Nook Tablet this Wednesday, February 22nd and are already at the stores now.

We can’t say much else about it as they will be pretty much the old model with a little less space to make it more affordable.

Barnes & Noble held an event November 7th in New York to unveil their next Nook device. It was an announcement we all expected to be the Nook 2 but turns out their predecessor is a full on tablet not to be confused with an e-reader any longer. If you don’t believe us check out the 1GHz dual-core OMAP processor and 1GB of RAM its packing.

Some of the other notable specifications are that the 1 GB of RAM doubles that of their competition in the Kindle Fire. Also the Nook Tablet boasts 16 GB internal memory with an SD card slot for added storage again doubling the Kindle Fire. The screen is the same 7 inch 1024×600 IPS panel as the Nook Color.

The Nook Tablet will be running another highly modified version of Android focused on the digital content that Barnes & Noble offers. They are also offering free access to the “Nook Cloud” system for safe storage with your device.