Last year December Google’s CEO Eric Schmidt assured the company will be rolling out a tablet in six months. The project is a collaboration between Google and Asus.The  7-inch tablet dubbed the Nexus 7 is rumored to be out in the market in June.

Based on the specifications the tablet will come with Android 4.1 operating system and will be using a quad-core Nvidia Tegra 3 processor.

According to Android Police which extracts info from Rightware’s Powerboard benchmarking tool, the following are more of the expectations of the Google’s long-awaited tablet

Display:1280px by 768px resolution

The aforementioned quad-core NVidia Tegra 3 processor (actually has a hidden fifth core) clocks at 1.3GHz along with an NVidia ULP GeForce graphics processing unit.

Further the Android police report the the device is codenamed Grouper it runs and runs Android 4.1 labelled “JRN51B”

In regard to  months of rumors and speculation, the search engine giant is aiming for as low a price point for their latest developer device as possible, probably sliding in at $200 -250 to compete with the cheapest of tablets and LCD e-readers.