Google Nexus 7 Fully Revealed: Tegra 3, 7-Inch IPS Display, $199 For 8GB, $249 For 16GB

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And like that, Google is officially in the tablet hardware business. Google is mere minutes away from kicking off its yearly I/O conference and perhaps the biggest news of the show, the announcement of the Nexus 7, was spoiled by the Google Play Store. Here is the Google/Asus Nexus 7 in all its glory.

Both 8GB and 16GB models pack a 7-inch 1280×800 HD display (216 ppi) back-lit IPS display covered in “Scratch-resistant Corning glass”. A Tegra 3 SoC powers Jelly Bean (Android 4.1) and Google promises the 4325 mAh battery should provide up to 8 hours of use. There’s NFC, GPS and a 1.2MP front-facing camera.

Contrary to the leak early today, ICS’s menu bar is still intact with a row of icons positioned above it. You can see Jelly Bean’s slightly tweaked interface in the video below.

Pricing is inline with the rumors. The 8GB will go for $199 with the 16GB hitting at $249. For a limited time, buyers will get $25 in Google Play store credit with the purchase. Google is taking pre-orders now with shipping expected in 2-3 weeks.

The video might not work. Here’s the direct link. (update: the video is now private.)