It seems that with the release of the Nook HD and Nook HD+ there's even less of a demand for the Nook Color than there was this Spring when B&N twice offered it as a BOGO deal.
So they have cut the price. The Nook Color is now selling for $139, and you can get the Nook Tablet for only $20 and $40 more.
I have to say that I am a little surprised; I was under the impression that the Nook Color had been discontinued. But I guess discontinued doesn't mean quite the same thing for B&N as it does for the rest of the world; after all, they did keep selling the original Nook well into 2012.
That would suggest that the Nook Color is also going to be around for a while, and it's going to have some interesting effects on the budget tablet market.
The Nook Color is likely never going to get Nook Video or the other cool new features of the Nook HD (same goes for the Nook Tablet), so it's not ever going to treated as anything but B&N's second class ereader. Even so, the Nook Color represents a new lower threshold for color ereaders. Its 7" screen and 800 MHz CPU is going to make budget tablet makers work a little harder to make cheaper devices, and that is a good thing all around.