Best Buy announced its home-cooked Android tablet, Insignia Flex, last week. It will retail for a mid-$200 price, according to a report.

Best Buy was teasing a new device for a while, and last week, it finally introduced the 9.7-inch slate, known as Insignia Flex. The tablet is due to hit shelves on Nov. 11, but the retailer didn't out the price point of the slate.

However, citing a source familiar with the matter, Reuters reports that Best Buy will sell the Insignia Flex tablet for somewhere between $239 to $259. This is not an official price, but it looks legitimate.

Announced via a post on Facebook, the Insignia Flex tablet features a 9.7-inch display and dual-core 1GHz processor. The post also claims the tablet will give 10 hours of battery time. According to an earlier report, citing an image posted on Twitter, the tablet is likely to boast a microSD card for expandable memory options.

Unfortunately, Best Buy's upcoming tablet runs on Android 4.0 (Ice Cream Sandwich), while Android Jelly Bean 4.1 is the latest fashion among newly debuting Android devices. It is unknown whether the Insignia Flex tablet will come with LTE support or will be offered as an Wi-Fi-only device.

Best Buy didn't reveal much about the tablet except the screen size, processor and release date. The official press release is also pending. However Reuter's source told the news agency that the Insignia tablet has a front-facing camera for video conferencing and it weighs 1.45 pounds, or about 657 g.

"Best Buy's launch of its own tablet does not mean it will not carry rival devices, the source said. Last month, retailer Wal-Mart decided to stop selling all Kindle products. Target took a similar decision earlier this year, acknowledging the growing threat from its online rival," reported Reuters.

Insignia is a Best Buy-owned brand and products in the line are competitively priced. However, the purported price for the device is considerable higher than sub-$200 price for the Google's Nexus 7 and Kindle Fire HD tablets.

With consumers tilting toward the tablet market, Best Buy's Insignia tablet doesn't come as a surprise. Rival U.S. retailers, including Wal-Mart, are also rumoredly working on Android tablets.