Cynics might also assume that it is a last effort to shift the Nook tablets in light of poor initial sales and hardware discontinuation next year.
The 7-inch Nook HD will now set you back a mere £99 for the 8GB model - a saving of £30 - or you can opt for £129 for the 16GB version. The larger 9-inch Nook HD+ will now cost £149 for the 16GB model (£80 less than its launch price) and £179 for the 32GB variant.
Both tablets run Android and have access to the Google Play store and B&N's own Nook Store, which offers over 2.5 million books and 1 million free titles.
According to B&N these price drops are only temporary but, considering the bleak future for the Nook range, we wouldn't be surprised to see more cuts on the horizon. In sales terms, the Nook tablets have taken a beating at the hands of Apple's iPad mini and Amazon's Kindle Fire HD. There were even rumours of a Microsoft takeover bid a couple of months ago.
However, all this negativity shouldn't dissuade us from the joy of reading - and B&N is trying its best to get us to settle down with a good story once in a while.
"We are committed to promoting the cause of literacy and we hope that families from all over the UK come to the Get Reading festival on 13th of July for a fantastic day of events featuring some top authors and celebrities,” said Jim Hilt, vice president of eBooks at B&N.
Although the Nook tablets may not be long for this world, the company will continue to produce its e-reader, the Nook Simple Touch and Nook Simple Touch GlowLight.