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Lenovo IdeaPad tablet to sell at OfficeMax for $500?

An alleged placard revealed by Engadget shows the new 10.1-inch Android-based Ideapad K1 tablet selling for $500 and reportedly launching soon.

A follow-up to Lenovo's current LePad (shown here), the IdeaPad K1 tablet, could launch soon. Lenovo

Lenovo's new IdeaPad K1 tablet could launch soon with a $500 price tag, according to a photo allegedly of an OfficeMax store placard leaked today to Engadget.

With a launch date that Engadget says "looks to be fast approaching," the K1 is expected to be one of the two 10-inch Android tablets that Lenovo has promised will launch this summer.

The alleged placard includes these specs: 10.1-inch multitouch screen, 1,280x800 resolution, cameras in front and back, built-in Wi-Fi, support for Adobe Flash, and up to 10 hours of battery life.

Tech site TechConnect has reported that the tablet will be driven by a Tegra 2 processor, offer 16GB or 32GB of storage, and include both USB and HDMI ports. The site has pointed to July as a likely launch date.

A CNET request for comment to Lenovo on the K1's price and launch date was not immediately returned.

This promises to be a busy year for Lenovo in the tablet market.

In addition to the two Android tablets slated for release this summer, the China-based company plans to release a 10-inch Windows tablet before the end of the year and is eyeing the launch of some 7-inch tablets as well. Lenovo currently sells its LePad tablet, but that device is available only in China.