Barnes & Noble and Samsung collaborated in a new venture that gave rise to a new e-reader that boasts fair specs and features as well as a low price.

The companies announced the new Samsung Galaxy Tab 4 Nook e-reader today and the e-reader is now available for purchase in Barnes & Noble stores for $179.

The Samsung Galaxy Tab 4 Nook has almost the same specs and features of a regular Tab 4. It comes with a 7-inch screen display with 1280 x 800 pixel resolution, 1.2GHz quad-core Cortex-A7 CPU paired with 1.5GB of RAM. The tablet will be available in 8GB and 16GB variants and is equipped with a  microSD slot for additional external storage.

For its software, instead of Samsung's TouchWiz UI, the Galaxy Tab 4 Nook runs with Nook's customized user interface. This will enable the device to gain access to Barnes & Noble's digital collection consisting of more than three million books, magazines and newspapers. Previous Nook tablets provided access to the Play Store, but it is still unknown if the same will be true for the Samsung Galaxy Tab 4 Nook.

Reports added that a bigger tablet will be released in two months. The larger e-reader will have the same specs and features like Samsung's Galaxy Tab 4 10.1. However, a specific date of release has not yet been revealed.

Recently, Barnes & Noble released a teaser trailer that features the bestselling author James Patterson targeting the youth. It started with a stereotypical scenario where a group of consumers were looking for a new product. The group of young people excitedly expressed their amazement to the new product saying things like "love it," "this is really cool," and "oh my god".

Both Barnes & Noble and Samsung plan to spike the interest in reading e-books and using e-readers to encourage the public to read.