Barnes & Noble has teamed up with Samsung to resurrect its e-reader/tablet dreams via the Samsung Galaxy Tab 4 Nook, which was launched at a New York City event on August 20.

United States' largest retail bookseller has recognized the need to stay relevant at this day and age where technology is a big chunk of the population's daily lifestyle.

"It's our attempt to link the digital and physical," Barnes & Noble CEO Michael Huseby said.

Digital Reader reported that the rebranded Nook will sell for $179, which is just about the same price as the regular Samsung tablet model.

The Nook Developer portal recently revealed that the Galaxy Tab 4 Nook will have similar specs as the original Samsung Galaxy Tab 4.

A 30-second video teaser posted on YouTube featured best-selling author James Patterson, a group of young people, and a grumpy cat.

In June, Barnes & Noble announced their partnership with Samsung to come up with a next-generation reading-friendly tablet.

Barnes & Noble currently has two tablet models: The 7-inch Nook HD and the 9-inch Nook HD , which retails for $129 and $179 respectively.

Aside from those two, the Samsung Galaxy Tab 4 Nook will go up against Amazon's top-selling tablets Kindle Fire HD and Kindle Fire HDX.

Barnes & Noble has hurdled some serious business predicaments in the past years posting negative profits and decline in revenues.

It has closed down a few dozen stores in bustling cities such as Manhattan and Washington the last five years.

The Nook spin-off is one of the two latest ventures that the company is taking in order to develop its business model and improve financial performance.

The other one is another collaboration project, this time with Google.

Taking a direct jab at Amazon, Barnes & Noble partnered with Google Shopping Express, Google's rising online shopping and delivery service, to carry out same-day deliveries to Manhattan, West Los Angeles and San Francisco Bay area residents.

This route will allow the book retailer to expand its online sales to complement the stagnancy of the brick-and-mortar business.