Google Nexus Tablet to Out Cheap Kindle Fire & New iPad?

While the rich can afford the latest iPad, many are hoping that the Google Nexus tablet will be affordable and down right cheap.

The latest Google Nexus tablet rumor is that new seven-incher will sell for between $149 and $199. A supplier confirmed to Android and Me that the tablet will have a seven-inch touchscreen and it is a "done deal."

The source also said that Asus has killed the Memo 37OT in favor of the Nexus tablet which reportedly will be announced at CTIA in May.

If the tablet out-cheaps the Kindle Fire, it could fire sales.  The Kindle Fire cost over $200 to make but sells for less because it acts as  cash register for Amazon.com.

Previous rumors suggested the Google Nexus tablet would have a quad-core Tegra 3 processor and have similar specs to the Asus Memo 370T .

To undercut the Kindle Fire, the latest rumor contends that the processor will be dual-core.

Previously, it was revealed the Nexus tablet would be made by Asustek and will be the first device with Google Play market on it.

Kindle Fire rumors are also heating up, with the most recent suggesting a 10-inch Kindle Fire in the works to take aim at the iPad.

2012 could be a year where we finally get a good full-featured $200 tablet, which of course can't ever beat out the legendary 10" HP TouchPad for $99 during the tablet fire sale of the century.