The rumors suggested that the Google Nexus 7 will be unveiled in Google I/O conference, yet it has been a big disappointment for eager fans that it hasn't been.

Thus, it is unclear if Google might continue with the device or not, according to PC Advisor. Since the revelation date is not set yet, the rumor mill is working overtime now over the specs of the much - awaited device.

The latest version of Nexus is rumored to be powered by a Qualcomm Snapdragon 625 processor, with a 4GB RAM and a QHD screen resolution, reported Christian Today. Although the newest device will not be including micro SD slots, yet it will allow up to 2 TB or 200 GB of storage expansion. The device, reportedly, will be released with different internal storage capacity of 32 GB, 64 GB and 128 GB.

According to another set of rumors, the device is set to come in two variations of a 7 inch and a 5 inch screen, and will cost between $229 to $269. The device will also have 4 GB RAM and will be powered by Snapdragon 820 chipset, reported Neuro Gadget.

However, given the level of rumors and the anticipation, Nexus 7 might have a tough time meeting the expectation of the users and deliver the promised items. The success of the original Nexus 7 released back in 2013 was due to its affordability with decent specs, and it is yet to be seen if Google can continue the same tradition with the latest product.

There has been no official announcement regarding the reveal date, but rumors suggest that it might be between September and October. Additionally, it may happen that the newest Nexus device will use Google N, which will also be ready to use during that time. Users need to stay tuned to the news to have the latest updates revealed.