Chrome OS Tablet PC: Google Wants Its iPad Killer in Stores by Black Friday

Google reportedly is in the midst of developing its own tablet computer and aims to launch its iPad killer on the busiest shopping day of the year -- Black Friday -- according to a report at the website Download Squad.

Google (GOOG) is turning to its previous partners to create the new device, with handset maker HTC (HTCXF) dishing up the hardware and Android-phone carrier Verizon (VZ) providing the network connection, according to the report. But Google will be using its Chrome OS -- not Android -- as the operating system for the device.

The report notes that Google's tablet is expected to be heavily subsidized, a move that could pose a serious problem for Apple's (AAPL) high-flying iPad with its $499 price tag. If Apple should begin to feel the pain of competition, consumers may stand to benefit with an iPad price drop following the Nov. 26 Chrome tablet launch.