Just as we expected, Acer has announced a new Android tablet at the Consumer Electronics Show in Las Vegas today. Pictures of the device surfaced several hours ago, but we were unable to confirm its specifications or its price tag until Acer made it official. Now we can confirm the device will be targeting the budget end of the market, priced at $150. But is it too expensive?

The Acer Iconia Tab B1, which was leaked by the FCC back in December 2012, has surfaced online just hours ahead of its official unveiling at CES 2013 in Las Vegas. The budget slate is expected to go up against devices like the Google Nexus 7 and the Amazon Kindle Fire HD, but does it have the specifications to compete?

Acer appears to be preparing a new entry-level addition to its Iconia tablet family, according to an FCC application for the Iconia Tab B1-A71. The 7-inch device is expected to run the latest Android 4.1.2 Jelly Bean operating system on a dual-core processor. And according to the plans above, it’ll look a lot like a Nook tablet.

The last time we saw the Iconia Tab, Acer was showing it off at Computex. At the time, the A110 was slated to be a sub $200 7-inch Ice Cream Sandwich tablet that I fully expected to hit shelves before the Nexus 7. That obviously didn’t happen, and since then, it has gained Jelly Bean and an official release date of October 30.

It looks like Google and ASUS have some competition in the sub-$200 quad-core tablet market. Acer was apparently looking to be first out of the gate when they unveiled their sub-$200 7-inch Tegra 3 Iconia Tab A110 at Computex the other day. Featuring Android 4.0, 1GB of RAM, a microSD card slot, front-facing camera, and a HDMI out port with dual-display support, the Iconia Tab A110 looks to give the Nexus tablet a run for its money.