Amazon is reportedly preparing to announce the Kindle Fire 2 during a press event on July 31st. The Kindle Fire 2 is expected to carry the same $200 price tag as the current device but will reportedly offer a sharper 1,280 x 800-pixel 7-inch display. Early reports have suggested that one of Amazon’s new tablets, either the 7-inch or its alleged 10.1-inch model, will pack NVIDIA’s quad-core Tegra 3 processor. Since we know the Google Nexus tablet to offer that chip, and a price tag around $200, we’re guessing Amazon has plans to include Tegra 3 in its budget-friendly model. The July 31st date was pegged by a credible source speaking to CNET. The source wasn’t able to confirm any display or processor specs but did say the new tablet will have volume controls and a camera. The company is also expected to drop the original Kindle Fire to $149 following the launch of its new tablet.