The latest rumors on the internet suggests Google plans to release a 7-inch $199 Nexus tablet. This rumor comes from two different industry sources who AndroidAndMe talked to at Mobile World Congress. As they have provided reliable information in the past, AndroidAndMe believes the sources are trustworthy. However, the sources rightfully want to remain anonymous.

According to the source, the tablet will be manufactured by ASUS and feature a 7-inch display along with the latest Google Android operating system (Ice Cream Sandwich). Inside, the rumored device features NVIDIA’s quad-core Tegra 3 processor.

Selling a full-featured Android tablet with all of Google’s mobile services and a quad-core Tegra 3 processor for only $199 would definitely bring some sales for Google and ASUS. It wouldn’t surprise us if there a 10 inch model was released and priced at $299 at the minimum. Sounds good don't it? Would you get one? Let us know your thoughts in the comments.

Source: Transformer Forums via AndroidandMe