On Tuesday, Barnes & Noble introduced an upgraded Nook called NOOKcolor, that looks more like a tablet ready to compete with the iPad than an eBook Reader taking on the Amazon Kindle.

The NOOKcolor has Android running under the hood and features a 7 inch full color screen (we're talking 16 million colors). It's small at just 8.1 inches high, 5 inches wide and 0.48 inches deep. It weighs only 15.8 ounces. It also has full web access, lets you play music and games, and by the way, it's an eBook Reader.

It also includes a MicroSD Card slot to get media like pictures and music onto the device. There are no physical buttons at all.

Barnes and Noble is billing this as not just a book reading device, but a content reading one. It's a smart approach because it takes it beyond the one-dimensional eReader and into the tablet territory.

What's more, it's aggressively priced for a tablet at just $249, well below the competition in the tablet market. iPad starts at $499, while the HP Slate release last week starts at $799 and speculation has the new Samsung Galaxy Tab is running somewhere between $499 and $699, depending where you read.

It remains to be seen if Barnes & Noble can deliver on the promise--for instance, how responsive is the touch screen and how well does it function for daily use?--but on paper (if you'll pardon the expression), the NOOKcolor looks to be the first device to combine the convenience and footprint of the eBook Reader with the increased functionality of a tablet. Can't wait to get into a B&N store to try one and see what it can do.

The NOOKcolor will be available on Nov. 19.

For more information:
- see the Barnes & Noble press release    

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