Rumors of the next-generation Nexus 7 have been rampant in the recent months and now a leaked Best Buy ad suggests that the next iteration of the tablet will release on July 30 for $229.

Google, in collaboration with ASUS, launched the Nexus 7 in July 2012, which became the first device to run on Android 4.1 Jelly Bean operating system. Rumors were rife that the Nexus 7 will launch along with the Moto X on July 11. However, the anticipated date has lapsed and we didn't see the launch of any of the purported devices..

However, Google has an event slated for July 24 where the company may launch the next-generation of Nexus 7 along with the much-awaited Android 4.3 Jelly Bean.

If Google launches the new Nexus 7 on July 24 then it's highly likely that the tablet may release on July 30.

"According to an anonymous tipster, the image we have is a Best Buy flyer that is scheduled to run on July 28th (next Sunday), and the flyer clearly says 'available Tuesday', which would be July 30th. The ad also confirms that the 16GB model of the tablet will cost $229, and confirms the display resolution at 1920x1200," reports Phone Arena.  

The Nexus 7 has been one of the most popular smaller tablets of 2012 and has also successfully rivaled iPad mini launched in Oct. 2012. The resolution of the Nexus 7 is better than the iPad mini, which gives the tablet slight advantage over the Apple offering.

Along with an enhanced display the next-generation Nexus 7 is also expected to pack a quad-core Qualcomm Snapdragon Pro processor clocked at 1.5GHz. The original Nexus 7 only had a front-facing camera and didn't sport a rear-facing camera at all. However, rumors suggest that the upcoming version of the Nexus 7 will feature a 5-megapixel rear-facing camera.

If the leaked Best Buy ad is true, then you can buy the 16GB of the device for just $229, which is around $100 cheaper than the iPad mini. The July 24 event is just around the corner and as such, there's not long to go before we learn more about the Nexus 7.