Dell’s newest tablet, the Streak 7, is its second attempt to snatch some of the market share from Apple’s iPad.

The Dell Streak 7 was launched recently via T-Mobile, which has the potential to make the tablet a success using its faster, 4G-class cellular network.

The Streak 7, which is being offered by T-Mobile for merely $200 with a 2-year contract, comes equipped with NVIDIA’s new, fast Tegra 2 processor.

The new device features a WVGA 7-inch touchscreen, measured diagonally, and Gorilla glass. It runs on Google’s Android 2.2 operating system. However, it could soon receive Android 3.0 (codenamed Honeycomb) through an over-the-air software update.

Dell Streak 7’s predecessor Streak 5 is a cross between a smartphone and a tablet. But, it received only a lukewarm attention from customers.

Unlocked Dell Streak 7 has been priced at $449.99. In contrast, Apple’s iPad, which dominates the tablet market, is available for 499.99. Taking specs of both tablets into consideration, the difference in price tags is not very wide.