Nook Tablet vs. Kindle Fire: Barnes and Noble Goes Head-to-Head With Amazon (VIDEO)

Barnes and Noble Inc. has just launched its new Nook Tablet, in an announcement which signals competition with Amazon's announcement of The Kindle Fire in September.

While it looks almost identical to the $199 Nook Color, the high speed Nook Tablet is said to be an improved version which retails at $249.

According to the the new state-of-the-art device boasts a 7" touch screen, 16GB of memory and "Lightning fast Email, Web & smooth streaming video."

While Amazon's announcement of the Kindle Fire left techies anxiously anticipating its release, Barnes and Noble could give Amazon a run for its money with the holiday season looming ahead.

The Kindle Fire also boasts a 7" touch screen, but with 8GB of memory, it offers only half the storage space of the Nook Tablet.

 Barnes and Noble’s New Nook Signals Competition with Amazon's Kindle Fire

Although the Kindle Fire retails for almost $50 less than the Nook Tablet, Barnes and Noble's latest gizmo offers users more convenience and practicality with a longer battery life and a slightly lighter weight.

The Nook Tablet also comes with preloaded apps from Netflix, while The Kindle Fire offers users one month free access to Amazon Prime.

Some critics are weary of Amazon Prime suggesting its live streaming abilities may be limiting.

Others suggest the Nook Tablet is relatively similar to the Kindle Fire, questioning whether it’s worthy of the $50 premium.

The Kindle Fire is set to be released Nov. 15, and although a number of consumers are likely to purchase it over the new Nook Tablet, many are tipping the Nook as a consumer favorite.