Inside the 7.9" 4:3 (768 X 1024) Android tablet is an Intel Atom dual core 1.6GHz processor, 1GB of RAM, 16GB of internal storage (expandable up to 32GB), Full HD rear camera, and WiFi. The A1 Iconia runs on Android 4.2.1 Jellybean.
It will be available in OZ next month, but no price is available yet.
But considering you can now get a decent tablet (Lenovo Ideatab, Asus Nexus) for pretty cheap these days, Acer would not want to be putting the RRP any higher than $199, especially if it wants to position itself as a much cheaper alternative to the iPad mini.
It also allows battery life of "up to" 7.5 hours on a single charge.