Rumors surfaced over the last few days about a 32GB version of Google's very popular Nexus 7 tablet. If a report today is to be believed, the company will indeed be releasing a 32GB version of the product, and much sooner than anyone likely anticipated. Google could release its new 32GB Nexus 7 as early as Oct. 24, allowing it to compete head-to-head with Microsoft's new Surface tablets, according to a report from Droid-Life.

An unnamed source has told Droid-Life that resellers are expecting to receive shipments of the 32GB Nexus 7 "sometime around" Oct. 24, although the source said no official date has been confirmed. Droid-Life found that resellers are initially planning to sell the 32GB tablet for $259.92, although the site cautions that this price is just an estimate and is not related to what Google will actually charge for the device when it launches. Previously Google had only sold the Nexus 7 in 8GB and 16GB models.

This is an ingenious move on Google's part if there's credence to Droid-Life's report. The tablet market is primed to be split open, and Apple's iPad knocked from its throne. 

Apple's iPad has lost 29 percent of its share of the tablet market over the last year due to the introduction of new lower-priced tablets, according to a report from Pew Research Center.

The survey found that while 81 percent of tablet users surveyed in 2011 reported owning an iPad, now just 52 percent have the device. Nearly half, 48 percent, now own an Android-based device, and about half of those devices, 21 percent, are Kindle Fires, the survey found.

Pew Research Center found that iPad owners do stand out in one area from Android owners. iPad owners reportedly use their tablets more often in general, and more often for reading news. Apparently, Android users are more likely to use social networks and follow news that comes from friends and family.

Nearly a quarter of U.S. adults, 22 percent, now own a tablet device, double the number from 2011.And nearly a quarter of those who don't have a tablet, 23 percent, plan to get one in the next six months. 

If Google goes ahead with its plan to release the 32GB Nexus 7 on or around Oct. 24 that could set up an epic tablet battle come this fall, considering Microsoft's release of its Surface tablets on Oct. 26, and the rumored release of Apple's iPad Mini around the same time.

Google Nexus 7 Specs

Display:
Type - 7 in, IPS TFT active matrix - LED backlight
Display Resolution - 1280 x 800 ( 216 ppi )
Features - Scratch-resistant surface, Corning Gorilla glass

Operating System:
Android 4.1 Jelly Bean

Processor:
NVidia Tegra 3, Quad-Core

Memory:
Flash Memory- 8 GB
RAM - 1 GB

Wireless Connectivity:
NFC, Bluetooth, Wi-Fi

Camera:
Front-facing Camera - 1.2 Megapixel

GPS Navigation:
GPS receiver

Expansion and Connectivity:
Interfaces - 1 x Micro-USB

Battery:
Capacity - 4325 mAh
Run Time - 10 hour(s)

Miscellaneous:
Sensors - Gyro sensor, Accelerometer, Magnetometer

Dimensions & Weight:
Width 7.8 in, Depth 10.45 mm, Height 0.4 in, Weight 0.7 lbs