The leaked details of the upcoming Kindle Fire competitor from the Barnes and Noble camp have been confirmed at a press conference held at its Union Square store in New York City.

The new 7-inch tablet tablet will come at a confirmed $249 and will be powered by a 1.3GHz dual-core processor with 1GB of RAM.

That's twice the RAM, and 300MHz more processing power than Amazon's offering.

There's also a lot more storage space, 16GB to be exact, with a storage card potentially taking it up to 48GB.

Bargain bin

In the wake of the Nook Tablet's release on November 16 - the day after Kindle Fire's launch - its predecessor the Nook Color will see its price reduced to $199, with the Nook Simple Touch coming down to $99.

These prices certainly reflect a bargain compared to the iPad, something that YouGov reckons will provide Amazon with a foot in the door to the tablet market.

[source: VentureBeat, Engadget]