Tegra Note tablets will be priced on par with the 7" Kindle Fire HD, and cost $30 less than Google's 2nd-gen Nexus 7. They'll feature a 7", 1280x800 display, a Tegra 4 CPU (naturally), dual cameras, stereo speakers, and a stylus accompanied by apps meant to take advantage of it.
Nvidia promises 10 hours of HD video playback on a charge, as well as game controller support and (courtesy of the TegraZone store) access to "Tegra-optimized games with visual effects that aren’t available on other tablets."
Though boasting strong multimedia features, the Tegra Note's display resolution is inferior to that of the new Nexus 7 (1920x1200), and (if a BGR report is true) could also be worse than that of the next 7" Kindle Fire HD.
Nvidia's main goal with the Note is to give a lift to plunging Tegra sales (-71% Y/Y in FQ2). Nvidia's mobile processor line is contending with tough direct competition from Qualcomm, and indirect competition from Apple and Samsung's processors. Intel's Bay Trail looms on the horizon.