E-Reader War Counter-Attack - TheStreet

E-Reader War Counter-Attack

The e-reader price war is on, as Amazon, Barnes & Noble and Borders step up their game.
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NEW YORK (

TheStreet

) --

Amazon

(AMZN) - Get Report

,

Barnes & Noble's

(BKS) - Get Report

and

Borders

(BGP)

are going slap for slap as they all try to reposition their e-readers to stand up to

Apple's

(AAPL) - Get Report

iPad.

Following e-reader price cuts by both Amazon and Barnes & Noble, Borders announced on Tuesday that it is offering a $20 gift card with the purchase of its Kobo retailer.

Borders boasts two of the cheaper e-reader on the market with the Kobo going for $149.99 and Lumre for $119.

While Borders isn't directly dropping the price on its e-reader, the $20 gift card almost essentially brings the price down to $130 for the Kobo.

Amazon slashed its price on the Kindle yesterday to $189 from $259, while Barnes & Noble will now sell the 3G Nook for $199 from $259. Barnes & Noble also announced the launch of Nook Wi-fi, which has a price tag on par with the Kobo, at $149.

Jim Cramer Apple vs. Amazon

-- Reported by Jeanine Poggi in New York.

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