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  Image courtesy of Reuters
  Google Nexus 7

The Google Nexus 7 tablet 32GB model sold out just hours after its initial release in the Google Play store.

This Nexus 7 model is the GSM version that could function off of AT&T's HSPA+ network. It sells for $299 in the Google Play store and is expected to be back in stock by next week.

The Google Nexus 7 Android 4.2, JellyBean update began rolling out this week.

The software upgrade recently rolled out to older Galaxy Nexus GSM models and now it seems that it is arriving on the high-selling tablet.

Once it is performed, the device will be running Android 4.2 build JOP40C that comes with a slew of new features. The update should roll out to Nexus S users next.

The Nexus 7 32GB model will retail for $229 at RadioShack with a new coupon code that the company is running.

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The electronics retailer will allow customers to purchase the tablet for this bargain price by using the coupon code: RMN20.

The Nexus 7 tablet is one of the highest selling devices in the market, moving 1 million units per month.

ASUS CFO David Chang reported that the tablet started off selling 500,000 units per month and eventually moved up to 1,000,000 this past month.

The only thing that could possibly affect the sales of the Nexus 7 would be the recently launched iPad Mini .

The 7.9-inch device has already received rave reviews from various publications, who feel that it is one of the premier mini-tablets on the market.

"There's no tablet in this size range that's as beautifully constructed, works as flawlessly, or has such an incredible software selection," wrote The Verge regarding the iPad Mini.

The Google Nexus 7 does feature a higher resolution display and a lower price tag, making it slightly more appealing . This could continue to give Google and ASUS the edge over Apple even after the shrunken down iPad ships.