Every week, there’s talk of a new tablet coming out to compete with the iPad, and if you’re into budget gadgets – and who isn’t – then there’s good news, as Aldi’s tech arm Medion is looking to branch out into touchscreen computers.

The tablet will be called the Medion LifeTab and will feature Google’s Android Honeycomb 3.2 in a 10 inch form-factor, taking advantage of much of the same technology we see in current iPad competitors, including the Nvidia Tegra 2 dual-core processor, Wifi 802.11b/g/n, built-in cameras on the front and back, HDMI port, microUSB, microSD card slot, GPS, and a 3G SIM card slot.

No word on if it will arrive locally yet, but if it does, we hope the 399 euro price tag applied to it overseas will mean something friendlier than the $532 Australian it translates to.