Barnes & Noble has released a new Nook e-book reader in time for the holiday gift rush.

The latest model, Nook GlowLight, comes as the company is evaluating the future of its Nook tablet, which underperformed when faced with competition from Apple's iPad, Amazon's Kindle Fire and more, The Associated Press reported.

Barnes & Noble had a 2 percent share of the worldwide tablet market in the fourth quarter of 2012, but fell from the top five this year, according to research firm IDC.

The bookstore conglomerate will focus on the new e-reader this year instead of updating the tablet, the AP reports.

"We are evaluating our road map and product plan," Mahesh Veerina, chief operating officer for the company's Nook Media business, told the AP in an interview. "We don't want to play in this general tablet market and compete with everybody."

Available online and in stores for $119, the Nook GlowLight comes in at 6.2 ounces, which is 15 percent lighter than the Amazon's Kindle Paperwhite reader. Another advantage is the Nook GlowLight is automatically ad-free; Amazon charges $20 more for a Paperwhite without ads on its screensaver or home screen.

While all-purpose tablets that can do email, Facebook and games have been a draw, e-readers have remained popular for long-form reading, said Jonathan Shar, general manager for emerging digital content at Barnes & Noble.

The GlowLight's electronic ink touch screen has better battery life and less glare than typical tablet screens. Its design is based partly on feedback received at the company's retail stores, where shoppers' suggestions influenced a brighter screen and greater comfort and durability, said Barnes & Noble officials.

The 4-year-old Nook business has had some success, with 10 million devices sold and a 22 percent share in the e-book market, Michael Huseby, the head of the company's Nook business, said in August. But Huseby also said the company had been overly optimistic about demand.

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