ASUS has a new, quad-core, Google Nexus tablet in the works that will be selling for $199, according to sources quoted by a site called AndroidandMe.

At a price of $199, the tablet would match the cost of the not as powerful Amazon Kindle Fire and the new 8GB Nook Tablet from Barnes & Noble.

The sources wished to remain anonymous, according to the report. But the site’s founder, Taylor Wimberly, said his sources that have provided reliable information in the past and that he trusts them.

If the sources are accurate, the tablet is to be a 7 incher, with a 1280×800 resolution screen, and is scheduled to begin shipping in June. Whereas the Kindle Fire and B&N Nook provide very customized, controlled and well branded experiences, a pure Google Android tablet is expected to provide greater freedom and access to Google’s Android Market (now named Google Play Store), which the Fire and Nook don’t provide.

Speaking of the renaming of the Android Market… analysts suggested that the new name would help Google to better compete with Apple and Amazon in the digital content arena. If this tablet comes in at a $199 price, that could be further indication that Google is going to get really aggressive as a digital content provider, and may brand this tablet to itself much in the same way that Amazon and B&N have tied their tablets to their stores.