After weeks of speculation the Google Nexus 7 Tablet is official! The Google and Asus device is ready to compete with every tablet in the market with specs that are top-of-the-line and a price that undercuts everyone.

The Nexus 7 is the first device to feature Android 4.1 Jellybean which is the latest and greatest from Mountain View with regards to Android software. It also features a 1280×800 IPS display, Corning glass, a front-facing 1.2 megapixel camera, 1 GB of RAM and NVIDIA’s Tegra 3 Quad-core SOC.

Pricing for the Nexus 7 comes in two flavors, $199 for the 8GB version, or $299 for the 16GB version. Both versions include GPS, Bluetooth, WiFi (b/g/n) Micro USB and NFC. The Nexus 7 also houses a 4325AH battery which should be more than enough to get you through the day on this svelte device.

We’ll have more info as it becomes available!