According to a rather substantial amount of rumors coming from various sources it appears that Asus is gearing up to launch yet another 7-inch tablet at Mobile World Congress, the Asus Fonepad.
Digitimes reports that, according to their sources in the upstream supply chain, Asus plans to unveil a 7-inch Fonepad tablet that will be based on Intel's Lexington Atom Z2420 CPU. The device was also confirmed by CNET's independent source familiar with the matter. The new Fonepad should be built around a 7-inch 1280x800 IPS screen and according to early pictures, should have an aluminum body. The rest of the specs include PowerVR SGX540 graphics, 1GB of RAM, front facing 1.2-megapixel camera and up to 32GB of storage.
Same reports suggest that it should be direct competition to the Nexus 7 and thus have a similar price, but should end up cheaper than the MeMO Pad launched earlier in Asia.
In any case, we will know for sure once Mobile World Congress kicks off on February 25th in Barcelona.