Google Offers a 7 Inch Tablet

At a June 27th, 2012 meeting with developers, Hugo Barra, director of product management at Google Inc., introduced Google's new Nexus 7 tablet - a $199 device with a 7-inch screen. Thinking about the Kindle Fire, what spot will the competitively-priced Nexus occupy in the evolving mobile device ecosystem? Thinking about Apple's larger iPads, will the 7 inch format become the new standard for tablets?