The new Google Nexus 7 may have a slimmer design, faster processor and whole slew of new features. But does that mean a more expensive price tag?

Google confirmed yesterday, the newest version of their Nexus 7 tablet line would launch July 30 and be priced at $229. That's a $30 increase from their last model.

But what about specs and features?

The Nexus 7 design will be, as previously stated, thinner. The new tablet will weigh 0.64 pound and only 8.65mm inches thick. The Nexus 7 will also have an updated 7-inch display at 1920 x 1200 resolution.

But what will make the Nexus 7 really click underneath? Google's equipping its new tablet with a new Snapdragon processor, featured in some of the industry's best smartphones to date.

One of the weaker points found in the Nexus 7 is the 5-megapixel rear-facing camera. I'm sure Google's planned some interesting camera features to take the burden off the low megapixel rate, but still 5 does seem a little weak, especially considering the $229price tag. The Nexus 7 will also feature a sub-par 1.2-megapixel front-facing camera.

And yes, the Nexus 7 will come with the latest version of Android 4.3. Though Android 4.3 is not a significant update to 4.2, Nexus 7 fans will be happy their new tablet comes with the latest and greatest operating system.

"I think Google is sitting in a really good spot with the new tablet. Apple never wanted to get into this seven- or eight-inch tablet fight. They were dragged in with the Kindle Fire and Google's original Nexus," according to Patrick Moorhead, an analyst at Moor Insights and Strategy [ABC News].

Fans can pick up their own Google Nexus 7 at local Google Play Store, Walmart, and Best Buy retailers when the tablet hits shelves July 30.