However you could get 32 gb version for the same price as the Nexus and the Arc has up to 64 gb storage for $299 and will be updated to Jellybean as well...And will also have out of the box access to the Play Store contrary to the Kindle and Nook tablets...
In case you missed it, the Kobo Arc is a 7″ tablet with similar specs to the new Kindle Fire HD. It has a high resolution 1280 x 800 IPS screen, a 1.5GHz OMAP 4470 dual-core processor, 1GB of RAM, a front-facing 1.3MP camera, dual front-facing speakers, and it delivers 10 hours of battery life.
The main thing that separates the Kobo Arc from the Kindle Fire is the software. The Arc runs open Android 4.0, and the Kindle uses a closed-in custom version of Android 4.0. The Kobo supports Google apps and even comes with access to Google’s appstore, which has over 600,000 apps. The Kindle Fire on the other hand has to be hacked to get access to Google Play.
The Kobo Arc is expected to be released in mid-November. More information about the device can be found on Kobo’s website.