When it was released a few months ago, the Kobo eReader was one of the first e-readers to sell for less than $150. Alas, it wasn’t all that great and it was quickly overshadowed when Barnes & Noble introduced its Wi-Fi Nook for $149 and Amazon later followed with an all-new $139 Wi-Fi Kindle. But now Kobo and Borders, which is an investor in Kobo (Kobo powers Borders’ e-book store), are set to release a new, improved wireless Kobo eReader this October for $139.99.

This news comes as a beacon of joy for consumers. The competition in the e-readers arena is doing wonders for sales, even as the holiday shopping season approaches. Improved products for lower prices, what else do you want?  In general, e-readers are gaining more popularity.

It is quiet interesting to note that swirl of updates coming from Amazon, just a few days back. Here, it is also noted that even with the new WiFi support and price drop, the Kobo has just matched the market–they don’t have any exciting new features to capture market attention. Till now they are only lowering prices to gain consumer approval.  Moreover, new entrants in the e-reader business, from apps to devices, will make it even more difficult to increase market share for Kobo.