Seems like everyone is hopping on the tablet train before it's too late. Google announced their latest entry into the tablet market today at their developers conference, Google I/O. The new 7-inch Google Nexus 7 tablet will run the freshly released version of Android 4.1 Jelly Bean. Priced at a mere $199, identical to that of Amazon's own tablet, the Kindle Fire, we should expect promising results from Google's latest release. 

Featuring a 1.3 GHz Nvidia Tegra 3 chipset with quad-core CPU and a 12-core GPU, the Google Nexus 7 plans to pack a punch when it comes to its functionality. To display all of that will be a 1280-by-800 IPS display with scratch-resistant Corning glass. To top everything off is 1 GB of RAM, a micro-USB port, and a 1.2 megapixel front facing camera. This potential "Kindle Fire killer" weighs in at 0.7 pounds and measures out to be 10.45mm thick. As for connectivity you can come to expect the usual GPS, Bluetooth, 802.11b/g/n WiFi, and NFC capabilities. Google promises up to 8 hours of content consumption from a 4325 mAh battery. 

Alongside with Google's latest and greatest hardware, they announced enormous updates to their software features as well. Google Play will now become the central hub for all of your entertainment content, ranging from music, movies, games, books, and much more. Using your Google account, Google Play will be able to store everything in one place, similar to an Apple ID account. By taking advantage of the cloud, all of your purchases and data can synced wirelessly throughout all of your devices as well. 

You can preorder your Nexus 7 today on Google's website for $199 for the 8GB version and $249 for the 16GB version. While this tablet does not plan to challenge what Apple has created with the iPad, the Nexus 7 looks to take a grab at what the Kindle Fire has started. Catch the video after the jump!