Verizon Wireless has officially unveiled its own-brand Ellipsis 7 tablet, set to make its debut on Nov. 7 with an attractive price tag off-contract.

The new Verizon Ellipsis 7 slate will hit the carrier's shelves on Thursday, Nov. 8, retailing for an affordable $249.99 without a contract. Those who are willing to commit to a lengthy two-year agreement with Verizon, meanwhile, will be able to get Big Red's own-brand 7-inch tablet for $100 less, which would bring the price down to $149.99.

"Tablets, like smartphones, come in many different sizes. And, as tablet use has grown among Americans over the past few years, the ways the devices are used - for work, play, reading, researching and more - have expanded as well," Verizon touted in a press release on Tuesday, Nov. 5, announcing its new tablet.

"The new Verizon Ellipsis 7 tablet offers users another option when shopping for a new fully featured tablet at an affordable price. Exclusive to Verizon Wireless, this compact tablet has a 7-inch HD screen and is easy to carry. Readers can download e-books using the Amazon Kindle app, and because of its size, the Ellipsis 7 is ideal to hold with one hand. Entertainment seekers, on the other hand, can use Redbox Instant by Verizon to watch their favorite movies when they are traveling, at the gym, or at home when someone else is using the TV."

In terms of specifications, the Verizon Ellipsis 7 sports a 7-inch IPS HD display with a resolution of 1280 x 800 pixels. Under the hood, the slate packs a quad-core processor clocked at 1.2GHz and 1GB of RAM. The tablet comes with 8GB of internal storage capacity.

According to the carrier, the Ellipsis 7 also comes with Verizon Messages on board, which will allow users to send and receive text messages from their tablet. The app recently received an update as well, now allowing users to send customized photos with collages to improve their messaging experience.

Verizon further notes that the Ellipsis 7 is just the first product in the Ellipsis family, which means that more devices from Verizon Wireless will launch in the future. The Verizon Ellipsis 7 will cost $249.99 off-contract and $149.99 with a two year-agreement, as it enters Verizon's limited-time promotion of $100 off any tablet when purchasing with a new contract.