The Acer Iconia A200 is just $329

A formidable, full-size Android tablet is ready to take on the iPad in the pricing department.

To date, there has not been an iPad competitor that provided a true competitive advantage. Android tablets have either been cheap but small and lacking in functionality, or expensive and tossed aside since anyone with that kind of money would rather just buy an iPad.

Enter the Iconia Tab A200 from Acer. With a low $329 price tag, it blows the iPad’s price out of the water but still manages to pack in a 10.1-inch display, an Nvidia Tegra dual-core processor, and the latest version of Android Honeycomb with the promise of Ice Cream Sandwich upgrades down the road.

“The Acer Iconia Tab family of tablets is an excellent example of Acer’s ability to deliver high-performance, full-function mobile devices at unbeatable values. Acer brings the Iconia Tab A200 to consumers at an affordable price, without making sacrifices on key tablet features such as expansion, connectivity to other devices, HD displays and camera,” said Acer in a statement.

Other specs of the tablet include 8 to 16 GB of internal memory, a microSD card slot, 2-megapixel front-facing camera, and support for 1080p HD video.

The device will be available on January 15. The $329 price refers to the 8 GB model, but the 16 GB version only costs an extra $20. This could be the iPad killer we’ve been waiting for.