The as-yet-unnamed tablet would run on Google's Chrome operating system, and is likely to be heavily subsidised for buyers who opt to purchase the device along with a monthly data plan from Verizon, the report said.
The device is expected to be launched Nov 26, the day after the Thanksgiving holiday in the US, which is recognised as the start of the holiday shopping season.
Samsung is also expected to launch another iPad competitor called the Galaxy later this year, with industry reports suggesting that it will run on Google's Android operating system that is primarily designed for mobile phones. The Galaxy is reportedly to be unveiled at the IFA 2010 consumer electronics show in Berlin in September.
Google and HTC have collaborated closely on developing phones running on Google's Android operating system, which is proving a stiff competitor to Apple's iPhone. Verizon is also a strong adopter of Android phones, as it battles rival AT&T, which enjoys exclusive iPhone rights in the US.
Apple launched the iPad in April, hailing the touch-screen device as a new paradigm for computing and selling 3 million units in the first 80 days on the market.
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