Just as expected, Google unveiled the long-rumored Nexus tablet at the annual I/O Conference. The 7-inch Asus-made tablet could be the worst nightmare to entry-level tablets, such as Kindle Fire. However, it will be no threat to Apple iPad, if the recent reports are to be believed.

The Nexus 7 tablet sports 7-inch LED-Backlit IPS display with resolution of 1280 X 800 pixels @216ppi. The device runs on quad-core Nvidia Tegra 3 processor clocked at 1.3GHz. It has 1GB of RAM and 8/16GB of internal storage. The most significant addition to hardware is 12-core Nvidia GeForce graphics card.

Nexus 7 tablet is also the first device to run Android 4.1 Jelly Bean operating system. However, there is nothing surprising in the new OS as compared to Android 4.0 Ice Cream Sandwich, except for some UI improvements and minor additions. In addition, Google Chrome is the default browser in Nexus tablet.

The Nexus tablet lacks microSD card support for expandable memory options. It also lacks primary camera. However, a front facing 1.2-megapixel camera is up there for video conferencing and self-portrait.

Loaded with 4325 mAh battery, Nexus 7 could last up to 9 hours on heavy usage.

Google didn't revealed a price tag for Nexus 7 tablet, but the 8GB model is likely to cost $199, while the 16GB is expected to sell for $249.

With sub-$200 price tag, Nexus 7 tablet looks like a nightmare for rival 7-inch tablets. Packing a powerful processor and latest Android operating system, the Internet search giant is targeting Amazon in the tablet market.

Nexus 7 would turn out to be a business killer for entry-level tablets like Kindle Fire, Blackberry Playbook and Barnes & Noble Nook tablet. However, Apple iPad seems to be out of the reach of Nexus 7 tablet.

Google's tablet will undoubtedly succeed in the market, but Apple will remain unaffected by the influence of Nexus 7 in the tablet market. For Apple, Nexus 7 is just another Android tablet and according to Topeka Capital Markets analysts Brian White, Apple iPad will continue its dominance in tablet market until 2016.