Nvidia is working on dirt cheap quad-core tablets and we should see the first products based on the new platform this summer. The target price is $199 and the new tablets should use lower cost components in the new platform, dubbed Kai.

There is nothing too surprising here, Asus demoed the MeMo 370T back at CES and this 7-incher powered by a Tegra 3 SoC was supposed to retail at $249. However, the 370 was canned and it is rumoured that the design will serve as a basis for Google’s upcoming Nexus tablet.

Kai could undercut existing low cost tablets, namely Amazon’s Kindle Fire, but it will also have to go up against Apple’s rumoured iPad mini later in the year.

More here.