As you can see the device is projected to be based on Google Android version 2.2 awill feature 7" screen, single-core ARM microprocessor and similar graphics technology that powers the original 3G and Wi-Fi-enabled Galaxy Tab.
Apple's competitors are planning to release tablets based on Google's Android OS but it is hard for them to match the iPad's starting price of $499 (Wi-fi only, 16GB model). Until now, tablets that were comparable to the iPad in features cost hundreds of dollars more, while cheaper tablets were inferior to the iPad in quality.
For example, Motorola's Xoom sells for $800, or $600 if the buyer agrees to a two-year data service contract with Verizon Wireless.
Samsung's original Galaxy Tab is half the size of the iPad, yet costs $500. And that price is only available if the buyer pays an activation fee and signs up for at least one month of data service from Verizon, at a minimum total cost of $55. The specific tablet can be had for as little as $300, but that requires two years of data service, or hundreds of dollars in fees. So it would certainly make sense for Samsung to release a new $399 Samsung Tab device. But we most probably have to wait some more days to learn about Samsung's official plans.