Announced at Google's 2012 I/O conference, the Nexus 7 is the first tablet to be part of the Google-produced Nexus line of Android devices and is built by Asus. It was designed to compete against other budget tablets like the Kindle Fire and Nook Tablet but differentiates itself with an unmodified version of Android 4.1.
The Verge

SCREEN
7” 1280x800 HD display (216 ppi)
Back-lit IPS display
Scratch-resistant Corning Gorilla Glass
1.2MP front-facing camera

WEIGHT
340 grams

MEMORY
8 or 16 GB internal storage
1 GB RAM

BATTERY
4325 mAh (Up to 8 hours of active use)

CPU
Quad-core Tegra 3 T30L 1.2GHz (1.3GHz Max @ Single Core) SoC

SIZE
198.5 x 120 x 10.45mm

WIRELESS
WiFi 802.11 b/g/n
Bluetooth

USB
Micro USB
USB-OTG Support*

OS
Android 4.1 (Jelly Bean)

FEATURES
Microphone
NFC (Android Beam)
Accelerometer
GPS
Magnetometer
Gyroscope

*Needs more confirmation

The Nexus 7 is an amazing package for something that costs a penny less than $200. It feels like something that could sell for much more. It has a great screen, solid performance and a clean, clear, uncluttered version of Google's latest operating system, Jelly Bean. From a pure hardware standpoint it beats the Kindle in every way possible -- except for content. Amazon's selection almost always trumps that of Google's, both in terms of variety and cost, but that's one wonderful problem to have, because almost all of that content is just as available on the Nexus 7 as it is on the Fire. The only major exception is Amazon Instant Video, and with Netflix, we can live with that.

So, while we tend to prefer larger tablets that better differentiate themselves from phones, if you've been toying with the idea of getting a real Android slate but didn't want to spend big bucks for a big device, this is what you've been waiting for. This is the best Android tablet for less than $200 and the best budget 7-inch tablet on the market. For the moment. The race to the bottom in the tablet space is, after all, just getting started and, if the Nexus 7 is any indication of what's to come, we're in for a very good ride.
Engadget Review

Honestly I think ASUS and Google have really done an excellent job here with the Nexus 7. The combination of a quad core SoC, IPS panel, solid construction, and the latest version of Android all for such a killer price point pretty much make it hard to really find any faults. Sure, it'd be useful to have a full size USB host port, microSD slot (though no Nexus has shipped with one since Nexus S), 5 GHz WiFi (Nexus 7 is 2.4 GHz only), or cellular, but the tablet wouldn't be $199 anymore. I also really feel like the 7 inch diagonal form factor is an ideal one, and the Nexus 7 is quickly growing on me.

Anandtech Mini-Review

confirmed 199USD already ?

1-Does the Nexus 7 support MHL
   Unfortunately,no.

2-What about USB-OTG?
   Input devices like mice and keyboards are supported out of the box.You can mount storage devices if you've rooted the device and use Stickmount which can be downloaded from the Play Store.
  

For Windows;
Nexus Root Toolkit by WugFresh

Google Nexus 7 Toolkit by mskip

For Linux;
N7Root by cyr0s

confirmed 199USD already ?

cant wait for the update. whats the malaysia time when the event start?

It's 12:30AM tonight

It's all but confirmed,i'll updating as things unfold at Google I/O

Most definitely. Based on leaked information. Since they say they want to compete with Kindle this price is quite true

im only interested in jelly bean

o.O
same here, if cheap then will buy it

link to livestream?

we now announce jelly bean...
true hardware acceleration...
ui priority over background apps heightened..
multi threading improved and optimized..

..

no need see liao, BUY! 

After the inclusion of import duties, it wouldn't seem that cheap any more :c

Really? i tot it is clean USD 199.. T.T

got Google Nexus 10.....as in 10-inch tablet?

Rumours is on Nexus 7 ... haven't heard of a 10' yet...but I personally would like a 10 inch tablet..as I think a 7 inch tablet is too small for me.

Agreed with u.. prefer 10inch very well..

yup should build 10inch, nowaday 7 inch too small to be laptop replacement in browsing internet or reading any book 

if USD 199 is without contract

i'm getting it

if USD 199 is without contract

i'm getting it

---

Added on June 28, 2012, 1:43 am
they wan nexus 7 to be practical and portable tablet....as mentioned just now in I/O
i feel 7" is fine for reading books, most book like novels are even smaller than that. browsing internet.....definitely enough for me, even 4.8" is already ok for me

Right now Tegra3 is still the best Mobile CPU you can have, better than the A5x and dual S4, however the major let down of the Tegra 3 is it's GPU

Nvidia claimed 12 cores GPU on the T3 but that's simply the number of SIMDs and not physical cores, ARM also names its SIMDs as core, but this only confuses customers, Nvidia will use this naming scheme to counter Apple claims, like Asus already responded on twitter

ARM SGX543 MP series has physical core scaling, but its only 8 SIMDs per Core, vs 12 on the Tegra 3, 8 on Adreno225 and 5 on Mali-400, the A5 has 2 cores and hence 16 SIMDs while the A5x has 4 cores and hence 32 SIMDs

^damn you're fast.

The shipping cost is rather high isn't it?How much would it cost to ship it to Malaysia?

I am using an US forwarding company. Not cheap

i think no. only wifi. its only $199. no sim slot. no sd slot. no photo app. =.=''

its a tablet to fight with kindle..if u compare with fruitpad sure u will see disadvantage..
if u look at long term with the nexus project support and the dev team its a not bad device

sd slot is what i need the most! 8 gb or 16gb wont be enough.

seem i need to wait for another affordable tablet. asus eepad memo 307t. LoL

u aint gone store music in the phone now days. you got google music that

see how google marketing gimmick? force us all to use their product

google io attendies get free nexus 7. omgg

Wrong . Mostly of use store hundreds of song inside our phone .
Marketing ? If that so we will only see "google music player" only in the market .
But now we have hundreds of music player for our choice .

Seem like you never use a android device before .
Don deny it , your word already betrayed you . Its pointless to cont arguing .
And never say that " you wrong i got xxx device blablabla" its not gonna help .

"force us all to use their product" you must be mistaken nexus 7 for some fruit tablet that you are using .

Well fruit tablet is Rm1500 for 16GB .
Cant extend also . At least this one suport USB OTG with a Rm5 adaptor .

you sure it can support USB OTG?  It is a deal breaker to me if it does not come with a microSD card slot.  They make it for "content consumption" but why limit us to only "consume" online content. 

most likely will get one for my kids.  But will see whether Asus will launch a better specs 7" tab with rear camera and microSD card before October. 

I came..
I saw..
I bought.. 

Sold my tablet, was planning to get an ASUS, have been a Nexus user, this device has the best of all worlds..

Ordered!

Wrong . Mostly of use store hundreds of song inside our phone .
Marketing ? If that so we will only see "google music player" only in the market .
But now we have hundreds of music player for our choice .

Seem like you never use a android device before .
Don deny it , your word already betrayed you . Its pointless to cont arguing .
And never say that " you wrong i got xxx device blablabla" its not gonna help .

"force us all to use their product" you must be mistaken nexus 7 for some fruit tablet that you are using .

i guess u never use a nexus before? tell me which nexus latest device got sd slot?

yeah go live in ur stone age where people store their file inside phone instead storing it at cloud.

and im loving my iphone 4s

i may get it if the price is >RM800 for 16gb when it arrives here

all new tablet will have high tax. because 1malaysia tablet more suitable for malaysia kid. new google tab too fast for our kid.

wifi only tablet (no voice call) is considered as PC.....so no tax at all     

iceman31 used to be a O2X user iinm.
Bear in Mind that Most Nexus Products primary targets are Developers.
Only Nexus One has Micro SD support, the Nexus S and Galaxy Nexus comes with built-in memory. Similiar to iphone, no expandable storage.

Cloud is the future, that's why Google has Google Drive, Microsoft has Skydrive, and Apple has iCloud.

no tax? im happy..  lol

dont forget dropbox etc.
yeah!

so who is doing bulk?

ask shahz...........    

This one come on time to beat the Malaysia pad..... with 999. ha ha, right timeing

Mayb 1 malaysia tab comes wit jellybean hehe

I'm sorry guys. I myself used my personal contact - my dad who lives in Amsterdam and will be coming back soon

I think one of my friends will be doing bulk soon. I'll update here if he responds.

This one come on time to beat the Malaysia pad..... with 999. ha ha, right timeing

Mayb 1 malaysia tab comes wit jellybean hehe