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Barnes & Noble CEO Introduces the NOOKcolor

Barnes and Nobles
AP
Barnes and Nobles

Barnes & Noble Inc. is gearing up for the holidays with the introduction of its brand new Nook e-reader that has a color touch screen and will sell for $249.

The NOOKcolor is $50 more than the most expensive Nook currently on the market but it can be used for reading digital books, magazines, newspapers and children's books.

It runs on Google Inc.'s Android operating system.

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The new NOOKcolor has functions common to what folks are used to seeing on tablet computers such as Apple's iPad with features such as games, music, Web browsing and its own application store.

William Lynch the CEO of Barnes & Noble was on CNBC today talking about the NOOKcolor, the pricing and the competition.

Barnes and Nobel will begin taking orders at its stores on today and begin shipping in mid-November. It will also be available at WalMarts, Best Buys and Books-A-Million.

If you want to read more about the NOOKcolor - here is the company's full news release.

Email me at bullishonbooks@cnbc.comAnd follow me on Twitter @BullishonBooks

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