NVIDIA Tegra K1 tablet release date: The newly launched $240 Xiaomi MiPad by the “Apple of China” now sports the Tegra K1 chip set, known as the world’s fast processor for mobile devices. The Xiaomi MiPad will be available in China next month.

The Tegra K1 was unveiled by NVIDIA at the Consumer Electronics Show early this year to much fanfare and raves bt the tech community.

Toms Hardware notes that after its CES 2014 debut, we’re finally seeing Tegra K1 devices in the wild. Specs of the Xiaomi MiPad include a 7.9-inch panel with a resolution of 2048 x 1536. Under the hood, it runs on the NVIDIA Tegra K1 processor, which has a quad-core CPU and clocks in at 2.2GHz. It runs on 2GB of RAM.

Variants for the XIaomi MiPad come in 16GB and 64GB options, both having support for microSD expansion of up to 128GB. It has an 8MP camera in the rear, a 5MP camera up front and has WiFi, Bluetooth 4.0 for its connectivity options. Its battery packs 6,700 mAh.

Xiaomi is getting on the tablet game with the MiPad, which sports several different colors. The slab runs on Android and its overall look closely resembles Apple’s iPad Mini.

The launch of the Xiaomi MiPad was held in Beijing with the 16GB model being offered at an equivalent of $240, while the 64GB variant is for sale at $270. It will be available in China and Xiaomi has not released specifics if it will be available in other markets.

Xiaomi is called the “Apple of China,” thanks to its dominance in the country’s mobile industry. Its flagship handset, the Xiaomi Mi3, is deemed one of the best selling flagships in the country.

During the launch of the Xiaomi Mi3 last year, 100,000 units were sold in 86 seconds. The country uses a special manufacturing process that allows it to sell its devices at 100,000 batches every week, with every set having an increment update base on customer feedback.

Apple co-founder Steve Wozniak has earlier noted that the company is ready to compete internationally, adding that he also uses the Xiaomi Mi3 handset.