With HP’s TouchPad not making such waves across during its introduction as the WiFi tablet on Feb. 10, the analysts have nonetheless presumed to become convinced of the handy computer form and have almost billed it as a close contender to the Apple’s iPad.

As per the grapevine, the tablet is expected to come at a price tag of $699 which is very interestingly much lesser than $799 which is the supposed cost of the Android 3.0 Motorola Xoom or Research in Motion’s PlayBook.

As per Forrester Research analyst, Sarah Rotman Epps , TouchPad’s 9.7-inch screen would help it make easier for the developers to set their applications on its platform apart from the Apple’s iPad.

Epps continues, “This product has a chance to beat RIM and any individual Android tablet, but not Apple, not this year or next…Consumers will consider the TouchPad, and then buy an iPad. iPad sales will be the lion’s share of the 24.1M we forecast will sell to US consumers in 2011.”

Other features of the HP TouchPad which sets it apart from the present iPad include: 2 cameras which comprise of a front plus rear camera meant for video calling, wireless printing capacity, several data ports, and the indigenous Touchstone technology that lets users to share their e-mail, video along with other apps just by making a touch gesture between a phone and the TouchPad.

Having said that all , it must be remembered that the iPad 2 launching this spring would also have dual cameras enabling Facetime chats along with a possible USB port.

So, it seems tough competition lies ahead!