Fujitsu is prepping a 7-inch Android tablet, for release in the third quarter of this year. The new slate follows the company’s 10.1-inch business-based Windows 7 tab, already unleashed in Europe and the US.

The tablet is set to pack in Android 3.1, meaning it should also be in line for an upgrade to the futuristic new Android Ice Cream Sandwich OS, due for release at the end of 2011.

But it’s the Fujisu Android tablet’s price that’s really got us excited. The company says it’ll start flogging it at just over £200. While that price is converted from US dollars ($347) and could go up a touch, it seems we might have a new budget contender on our hands.

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Via Digitimes