Nvidia CEO and co-founder Jen-Hsun Huang, recently launched the latest Asus 7 inch tablet that uses Nvidia's next generation Tegra 3 chipset. The new device will cost $249.00, which is almost half of what an entry level Apple iPad costs. iPad is the Number 1 tablet in the tablet marketplace.

At the CES 2012 international event, while launching the device, Huang touted the various benefits of the tablet marketplace, which is considered increasingly fractured.

The new device from Asus combines two amazing tablet features which every consumer looks for - the quad core processor and the most recent version of the Android operating system, Ice Cream Sandwich.

When talking about the new Tegra 3 processor, Huang said the company "essentially" thinks that this new processor is a member of quad core processing class as it has a fifth "ninja core" which enhances the ultimate potential of the Tegra 3, reports Wired.