By Keerthi Chandrashekar / Keerthi@latinospost.com (staff@latinospost.com) | First Posted: Jul 12, 2013 05:25 PM EDT

Google has been awfully quiet about the successor to the popular Nexus 7 tablet released last year, but that hasn't stopped insiders and rumors from spilling out onto the Internet. If it all adds up, then the second-generation Nexus 7 should be releasing by the end of July with some nifty specs.

The July release date isn't too far-fetched, as we've heard whispers of it for quite some time now after Google failed to show off a new Nexus tablet at its I/O conference earlier this year. Taiwanese news outlet Economic Daily adds credence to this date by stating in a new report that ASUS and Google are interested in releasing the tablet by the end of July.

The report even goes on to reveal alleged specs for the tablet. If Economic Daily is correct, then the new Nexus 7 will spot a 1920X1200 resolution, a 1.5GHz Qualcomm Snapdragon S4 processor, 2GB RAM, a 5-megapixel rear-facing camera (something the original Nexus 7 lacked), and a 1.2-megapixel front-facing camera. As is the norm with Google-branded devices, the Nexus tablet should ship with the latest version of Android. There should also be 16GB, 32GB, and LTE-enabled models. Expect Google to keep the Nexus 7 affordable and within the same $200-$300 price range as the original.

The specs do vary from the ones given by an ASUS rep recently, but all in all the next Nexus 7 should have the following over the original: a better display, more powerful processor, a rear-facing camera, and LTE support.

Nothing has been confirmed by Google or ASUS officially, so we'll simply have to wait and see if the tablet hits the Google Play store by the end of the month. With retailers everywhere slashing the price of the older Nexus 7, however, the wait shouldn't be too long.

Are you planning on picking up the next Nexus 7 tablet when it releases? Let us know why in the comments section below.