Xiaomi Corp revealed its first tablet product which is designed to challenge Apple Inc's iPad, which is the leader in the sector.

The Beijing-based firm's Xiaomi Tablet has almost the same appearance as the iPad Mini series. Founder and chief executive officer (CEO) Lei Jun said the product is designed to take on the iPad, China Daily relayed.

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The Chinese competitor of the iPad Mini boasts of longer battery life, faster processor, and a camera with a higher resolution. In addition, it is also a lot cheaper than its American counterpart.

According to TheNextWeb, Xiaomi's first tablet called the MiPad spans 7.9 inches, is available in six colors, and has a 2048 x 1536 display made by Sharp and Youda. It is also the first tablet to utilize Nvidia's 2.2 Ghz Tegra K1 processor.

The MiPad has a 2GB RAM and a16GB ROM with a memory expansion capacity of up to 128GB. The device sports an eight-megapixel rear camera and a five-megapixel front camera.

The MiPad's WiFi-only 16GB version will be sold at $240 (CNY1,499) with the 64GB version to be sold at $273 (CNY1,699).

One setback for the MiPad is that the utility apps it supports is currently limited to 100, and the games to 400. However, Lei has vowed to expand this number to 2,000 by the end of 2014, China Daily said.

The Chinese smartphone firm will start an 'open testing' of the MiPad in June. This would entail manufacturing a beta version of the product which will be for sale. The company will use the initial feedback from buyers to prepare a full launch for the device.

Lei said tablets are difficult to make and that their company has spent four years strategizing about their pioneering product for the industry. He also said the MiPad's specs will give users the best PC gaming experience.