Hold on to your money and postpone your tablet purchase for a little while longer, as Acer has announced the 7-inch Iconia Tab A110 tablet, which will feature a quad-core Tegra 3 chipset and will apparently go on sale for a price under $200 in the third quarter this year. That’s four processor cores, $50 each, to be more precise.

Showing off the A110 at the Computex expo in Taiwan, an Acer representative told The Verge that the tablet will be their main low-end device when it gets launched. The other specifications of the device aren’t too bad either, in case you were wondering that they might have cut costs elsewhere, as the A110 features 1GB of RAM, a 7-inch 1024×600 display, 8GB of internal storage with microSD expansion slot, a 5 megapixel camera at the back and a 2 megapixel camera on the front, and Android 4.0 Ice Cream Sandwich running on the software side.

If Acer manages to launch the A110 for less than $200, it will be quite an impressive deal considering the price vs. specifications ratio, and might just steal the crown of the most affordable Android tablet from the Kindle Fire.