After slashing the price of its flagship Nook tablet in August, Barnes & Noble has again hit the headlines. The company is expected to unravel the next iteration of the purported Nook tablet in late September in Union Square, New York - the same place where Barnes & Noble held its previous press events to launch its other devices.

In an exclusive report, Digital Trends reveals that New York-based Barnes & Noble will refresh its Nook line-up by unveiling a new Nook tablet.

"Our sources at Barnes & Noble, who wished to remain anonymous, confirmed to Digital Trends that a new Nook will be announced in late September and had the utmost confidence that a press conference will be held in the Union Square flagship location in New York City - the same space previous press events have previously been held," stated the report.

The source, however, could not provide the specific details surrounding the tablet's specs. However, Digital Trends claims that Microsoft's Windows 8 OS will power the new Nook.

"With Microsoft's $605 million investment in Barnes & Noble in exchange for a 17.6 percent stake in a subsidiary, the question that looms is whether the new tablet would scrap the Android OS and run Windows 8. From what we've heard, we're more inclined to believe that the unannounced Nook will run on Windows 8, as many have already speculated," claimed the report.

Barnes & Noble's move was expected since Google has recently launched its Nexus 7 tablet and Amazon revealed its slew of Kindle Fire tablets. Additionally, Apple, with the launch of its iPad Mini, is also expected to foray into the 7-inch tablet space.

With the new Nook launch, the tablet market seems to become more interesting as rival battle it out for top honors. How the new Nook model will eventually fare remains to be seen. Digital Trends estimates that the tablet will be available "sometime during the two months before holiday season kicks off."