Borders has entered the rather crowded eReader space with the launch of a $150 device dubbed "Kobo."
Kobo, which is expected to compete against Amazon's Kindle and B&N's Nook, offers users access to over a million eBooks via USB or a wireless Bluetooth connection. However, it does not support WiFi.
The eReader also comes pre-loaded with 100 classic titles and is capable of storing up to 1,000 eBooks on 1GB of flash memory.
In addition, Kobo boasts a two week battery life and supports a number of eReader formats, such as ePUB, PDF and Adobe DRM.
"The Kobo eReader is the eReader for everyone. It was created by booklovers, for booklovers," said Kobo CEO Michael Serbinis.
"[And] at $149.99 the Kobo eReader is roughly $100 less than the other eReading devices out there, so it provides a great way to start eReading without breaking the bank.
Serbinis added that Kobo offered free apps for a slew of mobile devices, including the iPhone, iPad, BlackBerry, Palm Pre and Android.