Kobo, the Canadian based eReader maker has announced that it will be adding wifi connectivity to its latest eReader. The new Kobo will be priced at $139, aligning it with the Amazon Kindle with the same price, and Nook which is priced at $149.

Kobo has also taken the opportunity to fix one of the drawbacks with its eReader, namely, the slow page turning.  The new eReader comes equipped with a new processor which should speed up the device.

So why should you go out and purchase a Kobo. One of the main advantages of the Kobo is that an eBook brought from a Kobo can be read on any ePub compatible device, which is not the case for Amazon’s Kindle.  

Also, don’t forget that the eReader market is as much about selling the eReaders as the eBooks, so even if it’s doesn’t beat the Amazon and Barne’s and Noble in the eReader race, there are still a lot of other reading devices where Kobo can come into the market. Already Kobo has announced that they will be providing an eBook store for the Samsung’s Galaxy tab tablet.

Kobo plans to start shipping the new model in October, when it can be brought online through its website, Borders and Walmart Canada.