The second generation Nexus 7 tablet from Google will launch next month at a $229 price point for the 16GB model, according to DigiTimes. The news site's supply chain sources claim that Google intends to avoid the cheaper tablet market and compete with Apple's iPad Mini. However, DigiTimes sources aren't the most reliable, and there's no way to know how much the new Nexus 7 will cost until Google makes an announcement.

The report notes that the entry-level tablet market is flooded with cheaper tablets from Samsung, Acer and Asus with price points hovering around $150, adding that Google will likely target the mid-range market with a price between $200 and $250. If this rumor does prove to be true, however, the company could still retail the original Nexus 7 (review) for a discounted price under $200 once its successor is released.

While we initially hoped to see the refreshed Nexus 7 at Google's I/O conference in May, the new tablet is now expected to launch in July (although that rumor also comes from DigiTimes). The device will likely feature a faster processor and a higher resolution screen.