While we already knew that ASUS is working on a low cost 7" tablet, now we find out it will come with much lower price than it was rumoured in the first place. Unlike the Nexus 7 which is cheap, but comes with a powerful features, ASUS will launch a cheaper tablet with much lower specifications. Apparently it will be priced at around $129 - $ 149. The main focus of this tablet will be emerging markets including India and China. According to the source, the ASUS ME172V tablet will be equipped with a VIA WM8950 processor, 1 GB of RAM and 16 GB storage.

The 7-inch touchscreen comes with 1024 x 600 pixels resolution and a 1.3 megapixel front-facing camera. However it will lack 3G/4G connectivity and will ship with Android 4.1 Jelly Bean operating system.

What we also found out is that ASUS and recently rumoured Acer tablets aren't the only cheap tablet in the development. Lenovo and Samsung are also preparing products with similar specifications and a price tag.