ASUS announced a budget tablet called the MeMo Pad today. The tablet is remarkably alike the more popular Google branded Nexus 7 but is just not the same. The MeMo Pad while looking the part certainly lacks in the power department and is severely at a disadvantage. This tablet is although being targeted at emerging markets, there the price matters the most and no one cares about how powerful the tablet is as long its getting the job done. The MeMo Pad is a budget tablet through and through so if you want to be dazzled and impressed, this is not for you. The MeMo Pad features a 7 inch screen with a resolution of 1024 x 600 pixels and a mere 170 PPI density. The tablet will be running Android 4.1 Jelly Bean which is one of its redeeming features. The processor is a VIA WM8950 which clocks at 1 GHz, Mali 400 GPU is also thrown in the mix. The front facing camera is 1 MP one and is capable of capturing 720p HD video. 1 GB of RAM will keep the operating system afloat. The MeMo Pad comes with either 8 GB or 16 GB of on board storage, depending on the model you buy and with a microSD card slot (sorely missing from the Nexus 7). ASUS is giving away 5 GB of online storage space to cheer the customers up. The battery is said to provide 7 hours of juice but the specifications are prone to vary. The MeMo Pad is available in white, black and pink flavors. The official names are Titanium Black, Sugar White and Cherry Pink though. The MeMo Pad is slated to release this very month, according to ASUS. But we do not know which regions the budget tablet will be available. We will keep you updated with further developments.