It’s been rumored for a while now that Google is developing a $99 version of its Nexus 7 tablet. Those rumors were based on manufacturing reports from Taiwanese gadget makers, such as Google’s Nexus 7 partner Asus. Now, it seems that a different Taiwanese company has beaten Google to the punch.

Today, phoneArena is reporting that Acer is building a 7-inch tablet called the Acer Iconia B1. Judging by the device’s hardware specs, it’s clear that the device will sell for a relatively low price.

According to the report, the Iconia B1 will have a 1.2GHz dual-core processor, 512 MB of RAM, and 8GB of storage. It will also sport a low 1024 x 600 resolution screen. The tablet is also rumored to have Bluetooth and GPS capabilities, a microSD card slot, and some sort of wireless data connectivity, judging by an FCC filing that shows a SIM card slot. It will arrive running the latest version of Android, 4.1.2 Jelly Bean.

With the iPad Mini beginning to pick up steam and challenge Amazon in the 7-inch tablet market, now would be the time for new players to try their hand at entering that market. When Apple, Amazon, and Google begin refining their designs for the iPad Mini, Kindle Fire HD, and Nexus 7 next year, there won’t be much room for any other companies to sell a significant number of mini tablets.

(via BGR)