Rumor: $99 Nexus 7 to be launched by the end of 2012. And a new thinner $199 model as well.

A $99 Nexus 7? Wow. I love you Google.

The Taiwanese newspaper, DigiTimes, is reporting that Google and ASUS are planning to launch two new variants of Nexus 7 with more thinness and newer display panels. And surprisingly one of the new variant will be priced at $99 only, while the other one will have the same price  tagof $199 as the current Nexus 7.

The new Nexus 7 variants will reportedly use Twisted nematic (TN) display panels made by Taiwanese panel maker HannStar Display, which apparently has also joined the supply chain for Apple’s iPad. But the company has made no comment on whether it’ll be working with Apple or Google or both.

Both the two new Nexus tablets are expected to launch by the end of 2012, according to the sources of DigiTimes.

Update: Asus has reached out and denied of any $99 Nexus 7 tablet in the making.