The rumors of a $99 Nexus tablet sound almost too good to be true. Such a device would undoubtedly prove to be popular, as the $199 Nexus 7 has already become a force in the mini-tablet market.

Today, DigiTimes fuled the rumors by reporting again that a $99 Nexus tablet model will be out later “in the fourth quarter of 2012. It also revealed a bit about what might running be inside the tablet.

With such a low price, it’s unsurprising that the rumored specs for the device are pretty low. The DigiTimes report quotes “Taiwan-based supply chain makers” as saying the tablet is being produced by Quanta Computer, the largest manufacturer of notebook computers in the world. The device reportedly has an ARM single-core 8950 processor and a “HUVA TN” touchscreen panel.

These low-price tablet rumors are circulating at the same time that photos of upcoming Nexus phones, such as LG’s “Optimus Nexus,” and news of a 10-inch Samsung Nexus tablet are leaking. It appears that Google is following through with its plan to take a more active role in the hardware its Android platform is running. That’s good, since manufacturers and mobile carriers have been agonizingly slow in issuing updates to their devices, which are often shipped loaded with unnecessary UI changes and crapware.