Edible Apple

BGR reports that HP is planning to release its iPad-esque TouchPad tablet before the end of June and that pricing will be about $699. And that’s for a wi-fi only model, mind you.

But don’t get me wrong. The TouchPad looks legit, but the iPad 2 will have already been out on the market for 3 months at that time, and may soon be followed by yet another iPad upgrade 3 months later. So will the TouchPad even have a chance to get off the ground? After all, assuming the next-gen iPad retains its current pricing structure, a base model will be available for $499 while the old-generation iPad will see a price decompression and may retail for as low as $399.

And iPad competition aside, HP will have a tough enough time competing against a growing field of game tablet competitors. Motorola’s Android-based Xoom tablet will launch on February 24th, albeit with a mind-numbing $800 price tag while RIM’s PlayBook is on track to launch sometime in April. Moreover, HP currently lacks a compelling app marketplace to entice both users and developers. A vicious cycle, no doubt.