HP is working on an Android tablet that will feature Nvidia's Tegra 4 processor.
The chip was announced at this year's Consumer Electronics Show in Las Vegas.
ReadWrite.com is reporting that its sources have confirmed that HP will introduce this new high-end tablet before November of this year. The Nvidia Tegra 4 features some impressive specs, but has not shown up on that many devices.
Sources also recently revealed that HP is planning to release a smartphone that runs Android OS. However, the company's CEO Meg Whitman stated that HP will not be releasing one this year. Rumors first circulated in 2011 point to HP releasing devices running Android. HP's last semi-successful smartphone was the Palm Pre 2.
Nvidia is also expected to launch Project Shield which will be the company's first gaming system in the second quarter of 2013. It will powered by the Tegra 4 chip. Toshiba and Vizio will launch tablets using the Tegra 4 chip in the near future as well.
HP's last tablet, the TouchPad, was powered by WebOS and got off to an extremely slow start, making the company pull it off the shelves and start from scratch with a different OS. New software could give an HP tablet more appeal as the company has a good reputation for creating hardware.
HP has recently been concentrating on getting its PC and Ultrabook line-ups on track following the release of Windows 8. The company has been somewhat successful in this area and recently became the world's lead PC manufacturer.
The tablet market has become even more competitive in recent years so HP probably has a better chance in finding its niche this time around. When it first entered with the TouchPad in 2011, the iPad was basically the only game in town.