The tablet wars are raging on and there’s a new player, Samsung’s Galaxy Tab 10.1 which is scheduled to hit stores around the second week of June. Its lighter and thinner than Apple’s iPad but just by a fraction. Should one expect drastic improvements when compared to the previous version? No. The point is, its ridiculously thin (approximately 0.2 milimeter than the iPad).

Here’s what you need to know to make an informed decision about whether to spend a few hundred Franklins on it.

Hardware

Processor: Nvidia Tegra 2 1GHz dual-core

Memory: 1GB

Screen size: 10-inch with 1280×800 resolution

Runtime: Approximately 9 hours with a single charge

It can also record video at 720p with 30 frames per second with its 3MP camera on the back and the 2MP in the front

Software

The stock operating system is Android 3.1 Honeycomb OS. Word along the water cooler is that Samsung has dropped its TouchWiz UI to get the tablet ready in a short time.

“Ensuring that the Galaxy Tab 10.1 launched with Android 3.1 Honeycomb was part of our constant commitment to meeting the needs of our customers,” Samsung Mobile CEO Dale Sohn said in a press release. “We’re going to make the Galaxy Tab 10.1 even more powerful, entertaining and secure through a series of upgrades coming to this device.

Now comes the most important bit, How many version are going to be available and will you have to take out another mortgage on your house to buy it?

Price

The standard 16GB with Wi-Fi Galaxy Tab is priced around $499 and the 32GB Wi-Fi model is $599.

Galaxy Tab 10.1 owners can rest assured that there will be updates being offered by Samsung in the near future which will add the tablet optimized versions of the TouchWiz UI over-the-air.