Barnes & Noble will launch the smaller edition of their Nook Tablet this week. According to the leaked memo from Walmart, the new Nook will be an 8GB Android tablet and will surely be a threat for Kindle Fire. The memo which was obtained by The Verge claims that Nook’s 8GB tablet is currently arriving in the store and will be available on Wednesday morning, February 22.

For the specs, the new Nook Tablet will be similar with Kindle Fire: Android tablet, 7 inch screen with 1024×600 screens, 1 GHz dual core processors, Wi-Fi access, built in microphones, more than 8 hours of battery life, and more. However, Nook is coming with double storage space of 16 GBand $50 more expensive. It means that Barnes & Noble now has an option to compete Kindle Fire not only for the specs, but also the price.

Barnes & Noble’s CEO William Lynch said that Nook family of tablets has reached the record sales within the nine week holiday period at the end of 2011.

Amazon also claims to have a record-breaking holiday sales for their Kindle tablets and ereaders with more than 4 million devices sold during the season.