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Various outlets, including the Wall Street Journal, are reporting that book retailer Barnes & Noble will announce the launch of a digital book-reading device designed to compete with Amazon's popular Kindle. The device is rumored to have a 6-inch color touchscreen.

Though no details have been officially announced by the retailer, Barnes & Noble launched an online digital-book store in July. In September, the Federal Communications Commission approved Barnes and Noble's application to create a mobile e-reader device.

Barnes and Noble's e-book store is already available for several mobile devices, including Apple's iPhone and e-readers from Irex and Plastic Logic. The book retailer is the exclusive digital content provider for Plastic Logic e-readers. Despite the company's presence on electronic reading devices, Barnes and Noble previously said it had not ruled out introducing its own hardware.

While sales at brick-and-mortar Barnes and Noble stores continue to decline, many have suggested that the company's traditional stores could give it an advantage over Amazon in the e-book market.

Barnes and Noble is holding an event in New York City on October 20th, though the company has not said what attendees can expect. The New York Times has reported that the books retailer "will likely" announce its e-reader at that event.

We will be watching for any news on Barnes and Noble's e-reader as the 20th approaches.