Back at the CES 2013, Acer has announced a budget-friendly 7-inch tablet that will retail in the market starting at USD150 only. Basic specs starts with an 8G storage with MicoSD slot, a dual-core 1.2Ghz processor by Mediatek. Wifi, Bluetooth 4.0, Jelly Bean OS a screen resolution of 1024 x 600 and a VGA front facing camera.

Boasting to be a super portable tablet, the Iconia B1 is promise to be held and use in one hand only, it has a triangular corner grip on the lower left side improves single-hand usage. It is also feather-light, weighing only 320 grams, making it one of the lightest 7-inch tablets in the market.
Acer Iconia B1-A71 Specs:
– Mediatek dual-core 1.2GHz processor (MTK 8317T)
– Android Jelly Bean 4.1.x OS
– 7-inch diagonal WSVGA capacitive multitouch screen with 1,024 x 600 resolution display
– 8GB internal storage
– Wi-Fi 802.11 b/g/n
– Bluetooth 4.0
– GPS
– microSD expansion slot with up to 32GB support
– front-facing 0.3-megapixel webcam
– 2,710 mAh battery
– micro-USB (charging and PC connect) with USB 2.0
– Dimensions: 197.4 mm x 128.5 mm x 11.3 mm
– Weight: 320 g
[Source]

In case you missed this.. Acer is comin up with a real affordable 7-inch tablet. Said to be starting at USD150. Check the specs.